Starboard Cuts Match Group Stake Amid Shifting Trends Across Tinder and Hinge
Key Points
Starboard sold roughly 4.2 million shares of Match Group, reducing position value by 8.1 Million
Transaction equates to 2.8473% of Starboard’s reportable U.S. equity assets
Post-sale holding: 11,070,379 shares worth $391,005,786
Match Group now represents 7.3572% of AUM, ranking as the fund's 3rd-largest holding
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What happened
According to a filing with the Securities and Exchange Commission dated November 14, 2025, Starboard Value LP sold 4,241,537 shares of Match Group (NASDAQ:MTCH) during the third quarter. The fund’s new position stands at 11,070,379 shares, valued at $391.01 million as of September 30, 2025. The position moved from 10.20% to 7.36% of disclosed assets quarter-over-quarter.
What else to know
Starboard Value LP’s sell order brings the Match Group stake to 7.36% of 13F assets, still the fund’s 3rd-largest holding
Top holdings after the filing:
- NASDAQ: QRVO: $684.09 million (12.87% of AUM)
- NASDAQ: ADSK: $417.10 million (7.85% of AUM)
- NASDAQ: MTCH: $391.01 million (7.36% of AUM)
- NYSE: BILL: $372.11 million (7.00% of AUM)
- NASDAQ: GEN: $345.53 million (6.50% of AUM)
As of November 14, 2025, shares were priced at $32.28, up 4.43% over the past year, underperforming the S&P 500 by 6.29 percentage points
Company Overview
| Metric | Value |
|---|---|
| Price (as of market close 2025-11-14) | $32.28 |
| Market Capitalization | $7.62 billion |
| Revenue (TTM) | $3.47 billion |
| Net Income (TTM) | $562.09 million |
Company Snapshot
Match Group, Inc. is a leading provider of online dating products, operating a broad suite of brands that serve millions of users worldwide. The company leverages a scalable digital platform to monetize user engagement through subscriptions and in-app purchases. With a strong portfolio and international reach, Match Group maintains a competitive position in the online dating industry by continuously innovating its product offerings and expanding its market presence.
Match Group, Inc. targets a global customer base seeking online dating and relationship services. The company offers a portfolio of online dating products and services, including Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime.
Match Group, Inc. operates a digital platform that monetizes user engagement through subscriptions and in-app purchases.
Foolish take
Starboard Value’s decision to reduce its Match Group position stands out because it comes from an investor that rarely makes portfolio changes without a clear strategic reason. A sale of this scale signals a shift in how one of the sector’s most analytical funds views the balance between Match’s recent volatility and its long-term earnings potential.
Match Group sits at the center of the digital platforms that help millions of people form connections. Match, at its core, is a portfolio of dating and relationship brands that monetizes user intent through subscriptions and paid features. The company is working through a transition in which user base has softened even as revenue per payer improves, creating a tension between engagement pressure and monetization strength. That dynamic becomes harder to read because the portfolio is moving unevenly, with Tinder losing momentum as Hinge expands its reach and benefits from product changes that take time to show up in revenue. The slowdown can look more severe than it is because investors often focus on headline engagement trends rather than the underlying model, which can still turn user activity into cash at scale.
For investors, the key question now is whether Match can stabilize its user base while maintaining the efficiency gains it has recently achieved. The company’s next phase will turn to whether it can reignite traction at Tinder while letting Hinge’s momentum play a larger role in the business. Those changes must ultimately show up in steadier cash flow, which has been harder for investors to see in recent quarters. How Match navigates that shift will determine whether the current hesitation around the stock reflects a passing slowdown or the first signs of a platform regaining its edge.
Glossary
Stake: The ownership interest or share that an investor holds in a company.
Position: The amount of a particular security or asset owned by an investor or fund.
Reportable U.S. equity assets: U.S. stock holdings that an institutional investor must disclose in regulatory filings.
AUM (Assets Under Management): The total market value of investments managed by a fund or investment firm.
13F assets: Securities that institutional investment managers must report quarterly to the SEC on Form 13F.
Quarter-over-quarter: A comparison of financial or operational results between one fiscal quarter and the previous quarter.
Filing: An official document submitted to a regulatory authority, such as the SEC, disclosing financial or ownership information.
TTM: The 12-month period ending with the most recent quarterly report.
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Eric Trie has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Autodesk and Bill Holdings. The Motley Fool recommends Match Group and Qorvo. The Motley Fool has a disclosure policy.
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