Bernzott Capital: “Shutterstock (SSTK)’s Competitive Position is Strengthening”

Bernzott Capital Advisors, an investment management firm, published its “US Small Cap Value Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. The portfolio rose 4.2% (gross) slightly underperforming the Russell 2000 Value’s advance of 4.3%, and somewhat less than the Russell 2500 Value’s gain of 6.3%. Industrials, the sector with the largest allocation at 35.2% of the portfolio, was the largest positive contributor to returns led by capital goods holdings. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Bernzott Capital Advisors US Small Cap Value, in its Q4 2021 investor letter, mentioned Shutterstock, Inc. (NYSE: SSTK) and discussed its stance on the firm. Shutterstock, Inc. is a New York, New York-based stock photography company with a $3.3 billion market capitalization. SSTK delivered a -18.28% return since the beginning of the year, while its 12-month returns are up by 27.78%. The stock closed at $90.61 per share on February 4, 2022.

Here is what Bernzott Capital Advisors US Small Cap Value has to say about Shutterstock, Inc. in its Q4 2021 investor letter:

“Shutterstock (SSTK): This market share-gaining provider of stock media posted a string of solid earnings during the year with strong gains in subscriber growth and a rising mix of subscription revenue. It has acquired smaller companies which enhance its product capabilities with tools and data insights and improve customer workflow. It recently announced Creative Flow, a suite of products fostering collaboration. The company’s competitive position is strengthening.”

Photo by ian dooley on Unsplash

Our calculations show that Shutterstock, Inc. (NYSE: SSTK) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. SSTK was in 19 hedge fund portfolios at the end of the third quarter of 2021, compared to 18 funds in the previous quarter. Shutterstock, Inc. (NYSE: SSTK) delivered a -25.61% return in the past 3 months.

In November 2021, we also shared another hedge fund’s views on SSTK in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.