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TripAdvisor The stock rose 17% on Thursday after the value of the right board revealed more than 9% of the online travel agency, according to the securities filing.
The position was valued at around $160 million as of the end of Wednesday.
“We value constructive engagement with all our shareholders and appreciate their feedback as we continue to grow our business as the world’s most reliable source of information for travel and experience,” a TripAdvisor spokesperson said in a statement to CNBC. The company’s board and management team are “committed to promote long-term value for our shareholders,” they added.
The right board declined to comment on the news.
TripAdvisor’s stock has been flat since the beginning of the year after more than 30% fell sharply in 2024. Last year, the travel review and booking company said it had created a special committee to explore potential options.
Starboard Value has gained a reputation for driving changes such as new CEOs and cost savings by acquiring significant stakes in the company.
Most recently, the company resolved the proxy fight Autodeskgot two board seats. Previously, I was asking for a change of my Tinder parent. Match Groupthe drug giant Pfizer and Salesforce.
The Wall Street Journal was the first to report the news late Wednesday.
