Quest Resource Holding Corporation Set to Join Russell 3000® Index
Quest Resource Holding (NASDAQ: QRHC) announced its inclusion in the Russell 3000® Index, effective July 1, 2024. The Russell indexes annual reconstitution, based on market capitalization, captured the 4,000 largest US stocks as of April 30, 2024. Quest will also join the Russell 2000®, Russell 2500™, and Russell Small Cap Completeness® indexes. CEO S. Ray Hatch credited this milestone to the team's dedication to customer service and operational performance. Russell indexes are significant benchmarks, with $10.5 trillion in assets benchmarked as of December 2023.
- Quest Resource Holding will join the Russell 3000® Index, a broad-market index.
- Inclusion in multiple Russell indexes: Russell 2000®, Russell 2500™, and Russell Small Cap Completeness®.
- Russell indexes are benchmarks for $10.5 trillion in assets, enhancing QRHC's visibility to institutional investors.
- CEO S. Ray Hatch highlights this as a milestone reflecting the company's growth and effective operational performance.
- No immediate financial impact from inclusion in the Russell indexes was mentioned.
- The Russell indexes' reconstitution can lead to volatility in QRHC's stock price as index funds adjust their holdings.
THE COLONY, Texas, June 11, 2024 (GLOBE NEWSWIRE) -- Quest Resource Holding Corporation (NASDAQ: QRHC) ("Quest" or the “Company”), a national leader in environmental waste and recycling services, today announced that the Company is set to join the broad-market Russell 3000® Index at the conclusion of the 2024 Russell indexes annual reconstitution, effective at the open of US equity markets on Monday, July 1st, according to a preliminary list of additions posted Friday, May 24th.
The annual Russell US Indexes reconstitution captured the 4,000 largest US stocks as of Tuesday, April 30th, ranking them by total market capitalization. Quest will be added to the US all-cap Russell 3000® Index, the small-cap Russell 2000® Index, the Russell 2500™ Index, the Russell Small Cap Completeness®, as well as the appropriate growth and value styles for each base index. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.
“Our inclusion in the Russell Index marks another important milestone in the growth of our business,” said Quest President and Chief Executive Officer S. Ray Hatch. “This achievement is a testament to the hard work of our entire team and their relentless focus on customer service, operational performance and our winning culture.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to the data as of the end of December 2023, about
About Quest Resource Holding Corporation
Quest is a national provider of waste and recycling services that enable larger businesses to excel in achieving their environmental and sustainability goals and responsibilities. Quest delivers focused expertise across multiple industry sectors to build single-source, client-specific solutions that generate quantifiable business and sustainability results. Addressing a wide variety of waste streams and recyclables, Quest provides information and data that tracks and reports the environmental results of Quest’s services, gives actionable data to improve business operations, and enables Quest’s clients to excel in their business and sustainability responsibilities.
For more information, visit www.qrhc.com.
About FTSE Russell
FTSE Russell is a leading global provider of benchmarking, analytics, and data solutions for investors, giving them a precise view of the market relevant to their investment process. A comprehensive range of reliable and accurate indexes provides investors worldwide with the tools they require to measure and benchmark markets across asset classes, styles, or strategies.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products, and index-based derivatives.
FTSE Russell is focused on applying the highest industry standards in index design and governance, employing transparent rules-based methodology informed by independent committees of leading market participants. FTSE Russell fully embraces the IOSCO Principles, and its Statement of Compliance has received independent assurance. Index innovation is driven by client needs and customer partnerships, allowing FTSE Russell to continually enhance the breadth, depth and reach of its offering.
FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit https://www.lseg.com/en/ftse-russell.
Investor Relations Contact:
Three Part Advisors, LLC - Joe Noyons • 817.778.8424
FAQ
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