The Miami Herbert Business School's Florida 50 Stock Index (UMIAMIFL) rises 9.82%
MIAMI, July 1, 2021 /PRNewswire/ -- The Miami Herbert Business School's Florida 50 Index, calculated by Standard and Poors (S&P) Custom Indices, closed out the first half of 2021 at 228.88 with a gain of 9.82%. Twenty of its companies saw their stock prices rise by over 25%.
The index, which tracks all Florida-based firms in the S&P Composite 1500® Index, was established by the Department of Accounting with a baseline value of 100 on January 1, 2016. Since its launch, the Florida 50 Index has more than doubled with a total increase of 128.88%.
The firms in the Florida index with semiannual stock increases of over 25% were:
Chico's FAS – CHS (+313.84%)
HCI Group – HCI (+90.11%)
Cross Country Healthcare – CCRN (+86.13%)
ODP Corp – ODP (+63.86%)
MasTec, Inc – MTZ (+55.62%)
Affiliated Managers Group – AMG (+51.63%)
Celsius Holdings – CELH (+51.24%)
Sykes Enterprises – SYKE (+42.55%)
Regency Centers – REG (+40.54%)
Bloomin' Brands – BLMN (+39.75%)
MarineMax Inc – HZO (+39.14%)
Jabil Inc – JBL (+36.66%)
Fresh Del Monte – FDP (+36.60%)
AutoNation Inc – AN (+35.85%)
Raymond James Financial – RJF (+35.78%)
Travel + Leisure Co – TNL (+32.52%)
Lennar Corp – LEN (+30.33%)
Ruth's Hospitality Group – RUTH (+29.89%)
Carrier Global Corporation – CARR (+28.84%)
Watsco Inc – WSO (+26.52%)
"The semiannual performance of the Florida 50 Index proves that Florida-based firms as a cross section are more than keeping pace with their counterparts across the country," said Seth Levine, CPA, and accounting program director at Miami Herbert and creator of the index.
While some of Florida's publicly traded companies still haven't fully recovered from 2020 losses, several companies have seen their capitalizations soar during the pandemic.
"The 12 largest companies in the Florida 50 Index have a combined market capitalization of over $300 billion. Florida's GDP, which surpassed $1 trillion in 2018, rivals that of countries like Spain and Mexico, and thus investors would do well to keep an eye on this index in the future as they weigh their investment decisions."
The index, which was established by Miami Herbert in 2016, is based on the capitalizations of all Florida-based large-, mid- and small-cap companies included in the S&P 1500 index having common stock listed on the NYSE or NASDAQ. It is the first, custom S&P Dow Jones index to be owned by a university and the only index that focuses solely on public companies headquartered in an individual U.S. state.
SOURCE Miami Herbert Business School