Carillon Tower Advisers Releases Q1 2024 Investor Letter Featuring Planet Fitness, Inc. (NYSE:PLNT)

Carillon Tower Advisers, an investment management company, recently released its first quarter 2024 investor letter for the Carillon Eagle Mid Cap Growth Fund. The letter highlighted the strength of mid-cap stocks in the first quarter, with the Russell Midcap Growth Index outperforming the Russell Midcap Value Index. All sectors in the Russell Midcap Growth Index delivered positive gains during the quarter.

One of the stocks mentioned in the investor letter was Planet Fitness, Inc. (NYSE:PLNT), a company that franchises and operates fitness centers. Despite a one-month return of 1.18%, the stock lost 3.69% of its value over the last 52 weeks. Carillon Eagle Mid Cap Growth Fund noted in its letter that Planet Fitness, Inc. faced challenges with new unit development and member growth, leading them to sell the stock.

In the first quarter, Planet Fitness, Inc. saw an increase in total revenue to $248.0 million from $222.2 million in the same period last year. The company outperformed in the previous quarter and contributed to the Carillon Eagle Mid Cap Growth Fund’s portfolio performance.

As of the end of the first quarter, 31 hedge fund portfolios held Planet Fitness, Inc., compared to 37 in the previous quarter. Despite the challenges faced by the company, it has shown resilience and potential for growth.

Investors interested in AI stocks with high return potential should check out our report on the cheapest AI stock available. For more investor letters from hedge funds and leading investors, visit our hedge fund investor letters Q1 2024 page.

Overall, the first quarter of 2024 presented both challenges and opportunities for investors, with companies like Planet Fitness, Inc. navigating a changing operating environment. For more insights and analysis, visit Insider Monkey’s website.