Tripadvisor surges after Starboard Value reveals 9% stake

Booking Holdings

03/07/2025 15:29

Updates

** Shares of online travel firm Tripadvisor TRIP.O rise 17.3% to $17.5 after activist investor Starboard Value discloses 9% stake in co

** Starboard says co's shares are "undervalued" and represent an "attractive investment opportunity"

** The activist investor's stake is worth about $160 mln at TRIP's last closing price, according to Reuters' calculations

** Investor to engage with co's management on opportunities of value creation

** TRIP last year formed a special committee to explore potential sale, but determined it was against co's best interests

** Four brokerages rate the stock "buy" and higher, 10 "hold" and five "sell" and lower; median PT is $16.63 - data compiled by LSEG

** Including session's moves, TRIP is up 19.60% YTD, while peers Booking Holdings BKNG.O is up 15%, Airbnb ABNB.O is up 4.6% and Expedia EXPE.O is down 5%

(Reporting by Ankita Yadav in Bengaluru)

((Ankita.Yadav@thomsonreuters.com;))