5 Best Fitness Stocks To Invest In

3. Peloton Interactive, Inc. (NASDAQ:PTON)

Number of Hedge Fund Holders: 39      

Peloton Interactive, Inc. (NASDAQ:PTON) operates interactive fitness platforms in North America and internationally. It is one of the elite fitness stocks to invest in. On September 21, Citi analyst Ronald Josey reiterated a Buy rating on Peloton Interactive, Inc. (NASDAQ:PTON) stock with a $23 price target, highlighting that the company announced the launch of a new home-rower machine and rolled out a series of software updates in the past few weeks. 

Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Peloton Interactive, Inc. (NASDAQ:PTON), with 20 billion shares worth more than $12.7 billion. 

In its Q2 2022 investor letter, Rowan Street Capital, an asset management firm, highlighted a few stocks and Peloton Interactive, Inc. (NASDAQ:PTON) was one of them. Here is what the fund said:

“Peloton Interactive, Inc. (NASDAQ:PTON) has been a costly mistake for the fund thus far. We started a small position back in September of 2020 and added to it as the stock declined and the price got “cheaper and cheaper”.

We would like to walk you through the rationale why we bought the stock in the first place and why we added to the position. We will give you just a short summary in the main body of the letter, and for those who are interested in a more detailed version, we have included a write-up on Peloton in the Appendix at the end of this letter.

The trial is still out whether we made a mistake on the company, but we definitely made the mistake on the weighting of our position and the price that we originally paid…(read more)