Catenaa, Thursday, July 03, 2025- TripAdvisor stock jumped over 18% on Thursday after Starboard Value revealed a more than 9% stake in the online travel company, according to a securities filing.
The position was valued at about $160 million as of Wednesday’s close. TripAdvisor shares have been flat since the start of the year after plummeting more than 30% in 2024.
Stock has gained by over 36% in the last five trading days and is up by over 25% since June 03, as the market cap topped $2.07 billion.
Last year, the travel review and booking company said it created a special committee to explore potential options.
Starboard Value has gained a reputation for pushing for changes such as new CEOs and cost cuts by acquiring significant shares in companies.
Most recently, the firm settled a proxy fight with Autodesk, where it gained two board seats. It has previously pushed for changes at Tinder parent Match Group, pharmaceutical giant Pfizer and Salesforce.
TripAdvisor, in late 2024, announced it was streamlining its ownership structure, buying out its majority holder, Liberty TripAdvisor Holdings, for $435 million and retiring its dual-class share structure.
The disclosures about that deal revealed that several bidders approached Tripadvisor about buying the company. Some private-equity firms in early 2024 were willing to discuss offers as high as $30 a share, according to the disclosures. In early 2025, another company was willing to offer $18 to $19 a share.
