Is Shutterstock (SSTK) A Smart Long-Term Buy?

Bernzott Capital Advisors, an investment management firm, published its fourth quarter 2020 investor letter – a copy of which can be downloaded here. A return of 24.41% was recorded by the fund in the fourth quarter of 2020, below its  R2000V and R2500V benchmarks that delivered a 33.36% and 28.51% return respectively in the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.

Bernzott Capital Advisors, in their Q4 2020 investor letter, mentioned Shutterstock, Inc. (NYSE: SSTK) and emphasized their views on the company. Shutterstock, Inc. is a New York-based stock photography company that currently has a $3.2 billion market capitalization. Since the beginning of the year, SSTK delivered a 17.80% return, impressively extending its 12-month gains to 177.10%. As of March 23, 2021, the stock closed at $88.75 per share.

Here is what Bernzott Capital Advisors has to say about Shutterstock, Inc. in their Q4 2020 investor letter:

“Shutterstock (SSTK): Improved financial results and signs of recovering digital advertising markets both contributed to good stock performance for this provider of stock content. Its transition to a subscription business continues to progress.”

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Our calculations show that Shutterstock, Inc. (NYSE: SSTK) does not belong in our list of the 30 Most Popular Stocks Among Hedge Funds. As of the end of the fourth quarter of 2020, Shutterstock, Inc. was in 23 hedge fund portfolios, compared to 19 funds in the third quarter. SSTK delivered a 18.06% return in the past 3 months.