5 Best Fitness Stocks To Invest In

4. Lululemon Athletica Inc. (NASDAQ:LULU)

Number of Hedge Fund Holders: 46

In the second quarter of 2021, the company grew its revenue by 61% year over year to $1.5 billion while the gross margin increased 390 basis points to 58.1%.

Even in the midst of a pandemic, the athleisure company is one of the fastest-growing in the fitness market. Lululemon Athletica Inc. (NASDAQ:LULU) opened 11 new company-operated stores in the second quarter, bringing the total number of stores worldwide to 534.

Lululemon Athletica Inc. (NASDAQ:LULU) is also expanding its business by acquiring Mirror, a fitness on-demand platform based in New York.

The winning Vancouver-based apparel stock gained more attention from the elite hedge funds in the second quarter. Of the 873 elite funds tracked by Insider Monkey, 46 were long Lululemon Athletica Inc. (NASDAQ:LULU) at the end of June, up from 41 in the first quarter of 2021. Boston-based investment firm Arrowstreet Capital is the leading stakeholder of the company, owning 410,700 shares worth $149 million.

Oppenheimer analyst Brian Nagel maintained an Outperform rating on Lululemon Athletica Inc. on September 17. (NASDAQ:LULU).