Here’s Why Carillon Tower Advisers Remains Optimistic on Pinterest Inc. (PINS)

Carillon Tower Advisers, an investment management firm, published its “Carillon Eagle Mid Cap Growth Fund” first quarter 2021 investor letter – a copy of which can be downloaded here. Mid-cap stocks as a whole advanced in the first quarter of 2021. However, there was a rather considerable disparity among the two style indexes, as the Russell Midcap® Growth Index (down 0.57%) significantly lagged
its Russell Midcap® Value Index (13.45%) counterpart. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.

Carillon Tower Advisers, in their Q1 2021 investor letter, mentioned Pinterest, Inc. (NYSE: PINS), and shared their insights on the company. Pinterest, Inc. is an American image sharing and social media service company that currently has a $40.5 billion market capitalization. Since the beginning of the year, PINS delivered a -5.46% return, while its 12-month gains are up by 251.58%. As of May 04, 2021, the stock closed at $62.30 per share.

Here is what Carillon Tower Advisers has to say about Pinterest, Inc. in their Q1 2021 investor letter:

“Pinterest is an operator of a pinboard-style social media website that enables users to create theme-based image collections for events, hobbies, and other personal interests. The firm delivered another quarter of both earnings and forward guidance above investor expectations, sending shares higher. Strength was driven by notable user growth and a return of advertising spending. We remain excited about an increase in video content, new analytics tools for advertisers, and an increasing shift towards ecommerce.”

Our calculations show that Pinterest, Inc. (NYSE: PINS) ranks 27th in our list of the 30 Most Popular Stocks Among Hedge Funds. As of the end of the fourth quarter of 2020, Pinterest, Inc. was in 95 hedge fund portfolios, compared to 80 funds in the third quarter. PINS delivered a -19.24% return in the past 3 months.

The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

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