07:12 AM EDT, 07/16/2024 (MT Newswires) -- Activist investor Starboard Value owns 6.6% of Match Group ( MTCH ) shares, a regulatory filing showed late Monday, and is pushing for changes within the online-dating company to improve margins or consider going private.

In a letter to Match CEO Bernard Kim and its board, Starboard executive Jeff Smith said the company can improve revenue growth by cutting costs and making innovations to its dating apps, Tinder and Hinge.

Match shares have fallen around 13% in the past six months as the company struggles with dwindling users in its dating apps, especially Tinder.

Smith said in the letter that Match will need to think about other alternatives, like going private, if it is unable to improve its product offerings and cost situation.

Match did not immediately respond to MT Newswires' request for comment.

Shares of Match were up more than 7% in recent Tuesday premarket activity.

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