5 Best Fitness Stocks To Invest In

4. Skechers U.S.A., Inc. (NYSE:SKX)

Number of Hedge Fund Holders: 31     

Skechers U.S.A., Inc. (NYSE:SKX) designs, develops, markets, and distributes athletic footwear for men, women, and children, as well as performance footwear for men and women worldwide. It is one of the top fitness stocks to invest in. Skechers USA shares have popped up recently after an SEC Filing showed that Michael Greenberg, the president of the firm, had bought 103,000 shares of the company, taking his ownership to 447,000 shares. 

On July 27, Wedbush analyst Tom Nikic maintained an Outperform rating on Skechers U.S.A., Inc. (NYSE:SKX) stock and lowered the price target to $42 from $48, noting that the company reported slightly better-than-expected Q2 results. 

At the end of the second quarter of 2022, 31 hedge funds in the database of Insider Monkey held stakes worth $830 million in Skechers U.S.A., Inc. (NYSE:SKX), compared to 28 the preceding quarter worth $893.5 million.

In its Q1 2022 investor letter, Fiduciary Management, an asset management firm, highlighted a few stocks and Skechers U.S.A., Inc. (NYSE:SKX) was one of them. Here is what the fund said:

“Skechers U.S.A., Inc. (NYSE:SKX) is the third largest footwear brand in the world. The company designs, manufactures, and distributes footwear for men, women, and children in U.S. and international markets. Its products cover a wide range of footwear categories including casuals, dress casuals, sandals, boots, work boots, performance footwear, and kids footwear. The company operates in three business segments: Domestic Wholesale (23% of sales), International Wholesale (48% of sales), and Direct-to-Consumer (29% of sales). In total, international sales account for approximately 60% of revenue…(read more)