Is Peloton Interactive (PTON) Stock a Buy For 2021?

Carillon Eagle Mid Cap Growth Fund recently released its Q3 2020 Investor Letter, a copy of which you can download here. You should check out Carillon Eagle Mid Cap Growth Fund’s top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.

In the Q3 2020 Investor Letter, Carillon Eagle Mid Cap Growth Fund highlighted a few stocks and Peloton Interactive Inc. (NASDAQ:PTON) is one of them. Peloton Interactive Inc. (NASDAQ:PTON) is an exercise equipment and media company. In the last one year, Peloton Interactive Inc. (NASDAQ:PTON) stock gained 410.2% and on December 31st it had a closing price of $151.72. Here is what Carillon Eagle Mid Cap Growth Fund said:

“Peloton Interactive operates a connected fitness platform offering live and on-demand classes allowing users to exercise at home. The firm’s shares continue to perform exceptionally well, as the company achieved yet another quarter of impressive growth, exceeding investor expectations. A clear beneficiary of the secular trend towards at-home connected fitness, the company continues to broaden its total addressable market through new product offerings at more affordable price points, as well as the expansion of its subscription-based content.”

Jacob Lund/

Last month, we published an article revealing that Peloton Interactive Inc. (NASDAQ:PTON) was one of the 12 best fitness stocks to buy now. They are one of the largest interactive fitness platforms in the world with over 2.6 million members.

In Q3 2020, the number of bullish hedge fund positions on Peloton Interactive Inc. (NASDAQ:PTON) stock increased by about 16% from the previous quarter (see the chart here), so a number of other hedge fund managers believe in Peloton’s growth potential. Our calculations showed that Peloton Interactive Inc. (NASDAQ:PTON) isn’t ranked among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 216% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 121 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

Video: Top 5 Stocks Among Hedge Funds

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Disclosure: None. This article is originally published at Insider Monkey.