TravelCenters of America Added to Russell Indexes
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TravelCenters of America Inc. has been added to the Russell 2000 Index as part of Russell Investments’ annual reconstitution of its comprehensive set of U.S. and global equity indexes, the company announced.
“We are pleased to be included in the Russell 2000 Index, one of the most widely used performance benchmarks for small-cap companies,” TravelCenters CEO Jon Pertchik said. “This is an important milestone for TA, and we look forward to the broadened visibility in the investment community and improved liquidity that we expect from our inclusion in Russell’s world-class market index.”
Annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of May 7, ranking them by total market capitalization. TA’s market capitalization was $428.4 million in late June. Experts define market capitalization as a company’s value based on its stock price.
Pertchik
Membership in the U.S. all-cap Russell 3000 Index, which remains in place for one year, means automatic inclusion in the small-cap Russell 2000 Index as well as the appropriate growth and value style indexes.
TravelCenters of America is the nation’s largest publicly traded full-service travel center network. Founded in 1972 and headquartered in Westlake, Ohio, it has more than 20,000 employees who serve customers in over 270 locations in 44 states and Canada, principally under the TA, Petro Stopping Centers and TA Express brands. Its offerings include diesel and gasoline fuel, truck maintenance and repair, full-service and quick-service restaurants, convenience stores, car and truck parking.
Hyliion Holdings Corp., with a market capitalization of $2 billion, and XL Fleet Corp., $1.2 billion, made similar recent announcements. — Transport Topics
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