The Tripadvisor brand is displayed on a pill.
Mateusz Slodkowski | Sopa Photos | Lightrocket | Getty Photos
Tripadvisor inventory jumped 17% Thursday after Starboard Worth revealed a greater than 9% stake within the on-line journey firm, according to a securities filing.
The place was valued at about $160 million as of Wednesday’s shut.
Tripadvisor shares have been flat for the reason that begin of the yr after plummeting greater than 30% in 2024. Final yr, the travel review and reserving firm mentioned it created a particular committee to discover potential choices.
Starboard Worth has gained a popularity for pushing for adjustments akin to new CEOs and price cuts by buying important shares in corporations.
Most not too long ago, the agency settled a proxy battle with Autodesk, the place it gained two board seats. It has beforehand pushed for changes at Tinder father or mother Match Group, pharmaceutical big Pfizer and Salesforce.
The Wall Road Journal was the first to report the information late Wednesday.
Each Starboard Worth and Tripadvisor didn’t instantly reply to CNBC’s request for remark.