Covenant Transportation Group, Inc. said Thursday it expects to join the Russell 3000 stock index at the conclusion of the annual reconstitution of Russell indices next Friday.
Membership in the Russell 3000 Index, which remains in place for one year and is based upon the market value of the biggest publicly traded companies, means automatic inclusion in either the large-cap Russell 1000 Index or small-cap Russell 2000 Index.
The Chattanooga-based Covenant has a market value of more than $425 million, based upon the company’s closing stock price Thursday.