SPGI - Essent Group Set to Join S&P MidCap 400; Coherus BioSciences Patterson-UTI Energy to Join S&P SmallCap 600
NEW YORK, May 26, 2020 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600 effective prior to the open of trading on Monday, June 1:
- Coherus BioSciences Inc. (NASD:CHRS) will replace Opus Bank (NASD:OPB) in the S&P SmallCap 600. Pacific Premier Bancorp Inc. (NASD:PPBI) is acquiring Opus Bank in a transaction expected to be completed soon pending final conditions.
- Essent Group Ltd. (NYSE:ESNT) will replace Patterson-UTI Energy Inc. (NASD:PTEN) in the S&P MidCap 400, and Patterson-UTI Energy will replace Noble Corporation plc (NYSE:NE) in the S&P SmallCap 600. Noble is no longer representative of the small-cap market space.
Coherus Biosciences is a biotherapeutics company that focuses on the biosimilar market. Headquartered in Redwood City, CA, the company will be added to the S&P SmallCap 600 GICS (Global Industry Classification Standard) Biotechnology Sub-Industry index.
Essent Group offers mortgage insurance, reinsurance, and risk management products. Headquartered in Hamilton, Bermuda, the company will be added to the S&P MidCap 400 GICS Thrifts & Mortgage Finance Sub-Industry index.
Patterson-UTI Energy is a provider of oilfield services and products. Headquartered in Houston,TX, the company will be added to the S&P SmallCap 600 GICS Oil & Gas Drilling Sub-Industry index.
Following is a summary of the changes:
S&P MIDCAP 400 INDEX – JUNE 1, 2020 |
COMPANY |
GICS ECONOMIC SECTOR |
GICS SUB-INDUSTRY |
ADDED |
Essent Group |
Financials |
Thrifts & Mortgage Finance |
DELETED |
Patterson-UTI Energy |
Energy |
Oil & Gas Drilling |
S&P SMALLCAP 600 INDEX –JUNE 1, 2020 |
COMPANY |
GICS ECONOMIC SECTOR |
GICS SUB-INDUSTRY |
ADDED |
Coherus Biosciences |
Health Care |
Biotechnology |
Patterson-UTI Energy |
Energy |
Oil & Gas Drilling |
DELETED |
Opus Bank |
Financials |
Regional Banks |
Noble Corp |
Energy |
Oil & Gas Drilling |
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