Planet Fitness (PLNT) Surged on Strong Quarterly Results

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. After underwhelming results in Q3, mid-cap stocks made impressive gains in Q4. Mid-cap stocks had a positive year, with every sector performing well. The Russell Midcap Growth Index (up 25.86%) outperformed the Russell Midcap Value Index (up 12.66%) by a significant margin. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Carillon Eagle Mid Cap Growth Fund featured stocks such as Planet Fitness, Inc. (NYSE:PLNT) in the fourth quarter 2023 investor letter. Headquartered in Hampton, New Hampshire, Planet Fitness, Inc. (NYSE:PLNT) is a fitness center operator. On January 31, 2024, Planet Fitness, Inc. (NYSE:PLNT) stock closed at $67.76 per share. One-month return of Planet Fitness, Inc. (NYSE:PLNT) was -5.72%, and its shares lost 18.82% of their value over the last 52 weeks. Planet Fitness, Inc. (NYSE:PLNT) has a market capitalization of $5.973 billion.

Carillon Eagle Mid Cap Growth Fund stated the following regarding Planet Fitness, Inc. (NYSE:PLNT) in its fourth quarter 2023 investor letter:

“Planet Fitness, Inc. (NYSE:PLNT) is a franchisor and operator of fitness centers. The stock outperformed during the quarter, driven by strong quarterly results that exceeded analysts’ expectations. Membership trends continue to grow, and the company has successfully worked with franchisees to reduce its overall capital outlay for building new units.”

Planet Fitness, Inc. (NYSE:PLNT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 40 hedge fund portfolios held Planet Fitness, Inc. (NYSE:PLNT) at the end of third quarter which was 23 in the previous quarter.

We discussed Planet Fitness, Inc. (NYSE:PLNT) in another article and shared the list of best franchises to own in 2024. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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