CORAL GABLES, Fla.,
Jan. 5, 2018 /PRNewswire/ -- The
University of Miami Business School's
Florida 50 Index finished 2017
with a gain of 28.55%, with twelve of its firms seeing stock prices
rise more than 40% and another twelve of its firms seeing stock
prices rise more than 20%. The 28.55% gain in the Florida index, which tracks all Florida firms in the S&P Composite 1500®
Index, edged out the broader S&P 500 by 9.13% and the S&P
1500 by 9.75%.
The twelve firms in the Florida
index with gains of more than 40% were TopBuild Corp. (+112.75%),
PetMed Express (+97.23%), Marriott Vacations Worldwide
(+59.35%), ILG Inc. (+56.74%), CSX Corp. (+53.10%), KLX
Inc. (+51.30%), Lennar Corp. (+47.31%), PGT Innovations (+47.16%),
WellCare Health Plans (+46.71%), Royal Caribbean Cruises (+45.39%),
Roper Technologies (+41.47%), and Affiliated Managers Group
(+41.26%).
UM's Florida 50 Index, which
was established by Miami Business 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 very 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.
"The 2017 performance of the University of
Miami Business School's Florida 50 Index shows that not only are
Florida-based firms keeping pace
with their counterparts across the country, as a cross-section,
they're actually seeing results coming in even better," said
Seth Levine, CPA, an accounting
lecturer at the School and creator of the index. "The twelve
largest companies in the Florida
50 Index have a combined market capitalization of over $300 billion. Investors may do well to keep an
eye on this index in the future as they weigh their investment
decisions."
Two companies recently joined the index thanks to S&P's
recent inclusion of both into their own indices. They are Norwegian
Cruise Lines (NYSE: NCLH) and SBA Communications (NasdaqGS:
SBAC).
The index is available under ticker symbol UMIAMIFL
through the S&P website at www.UMFL50.com. The performance can
be monitored in real time on Yahoo Finance.
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SOURCE University of Miami