12 Best Fitness Stocks to Buy Now

8. Fitbit, Inc. (NYSE:FIT)

No of HFs: 32

Total Value of HF Holdings: $425 Million

Fitbit ranks 8th in our list of the 12 best fitness stocks to buy now. Fitbit, Inc. is an American consumer electronics and fitness company with headquarters located in San Francisco, California. They provide the market with products such as trackers, smartwatches, wearables, and alike. During the third quarter of 2020, the company reported a revenue of $364 million, up 5% year-on-year.

The top hedge fund holder of this stock is Alec Litowitz and Ross Laser’s Magnetar Capital which had $76 Million invested in the stock at the end of September.

In 2019, Google’s parent company Alphabet announced plans to acquire Fitbit, with a deal value of $2.1 billion at a fully diluted equity value. In recent reports, Westchester Capital Management member, Roy Behren mentioned that Google is getting closer to achieve the necessary approval from the European Union.

“I’m removing the word ‘cautiously, we are now optimistic the deal will close, our view is that the concessions made by the company are sufficient, or close to sufficient, to allow the European Commission to approve it.”

7. Herbalife Nutrition LTD (NYSE:HLF)

No of HFs: 36

Total Value of HF Holdings: $2.3 Billion

Herbalife is a global nutrition and weight management company founded by Mark Hughes. The company manufactures products that focus on dietary supplements. During the third quarter of 2020, HLF reported net sales of $1.5 billion, a 22.3% increase compared to the same period of 2019, this was the largest quarterly result in the Company’s history.

The top hedge fund holder of this stock is Carl Icahn’s Icahn Capital LP which had over $956 million invested in the stock at the end of September.

6. Dick’s Sporting Goods, Inc. (NYSE:DKS)

No of HFs: 41

Total Value of HF Holdings: $626 Million

DKS ranks sixth in our list of the best fitness stocks to buy now. Dick’s Sporting Goods, Inc. is a retailer for sporting food. The company owns stores that offer a wide range of brand name sporting goods equipment, apparel, and footwear. For the third quarter of 2020, reports showed earnings per diluted share of $1.84 increased by 179% versus $0.66 per diluted share in the prior year.

Click to continue reading and see the Top 5 Fitness Stocks to Buy Now.

Suggested Articles:

• 10 Best Cheap Stocks To Buy Now
• 15 Best Technology Stocks To Buy Now

Disclosure: None. 12 Best Fitness Stocks To Buy Now is originally published at Insider Monkey.