CHATTANOOGA, Tenn., June 18, 2015 (GLOBE NEWSWIRE) -- Covenant Transportation Group, Inc. (Nasdaq:CVTI) a leading provider of truckload freight transportation services, announced today that it expects to join the Russell 3000® Index at the conclusion of the annual reconstitution of Russell indices on June 26, 2015 according to a preliminary list of additions posted on the FTSE Russell website at www.russell.com.
Membership in the Russell 3000 Index, which remains in place for one year, is determined primarily by objective market-capitalization rankings and style attributes. Membership in the Russell 3000 means automatic inclusion in either the large-cap Russell 1000 Index or small-cap Russell 2000 Index. Based on the market capitalization cut-offs currently in effect Covenant Transportation Group believes that it will be included as part of the small-cap Russell 2000 Index. For more information on the Russell 3000 and the Russell indices reconstitution, go to “Recon Central” section on the FTSE Russell website.
Covenant Transportation Group, Inc. is the holding company for several transportation providers that offer premium transportation services for customers throughout the United States. The consolidated group includes operations from Covenant Transport and Covenant Transport Solutions of Chattanooga, Tennessee; Southern Refrigerated Transport of Texarkana, Arkansas; and Star Transportation of Nashville, Tennessee. In addition, Transport Enterprise Leasing, of Chattanooga, Tennessee is an integral affiliated company. The Company's Class A common stock is traded on the NASDAQ Global Select under the symbol, “CVTI”.
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Statements in this press release regarding the Company’s business that are not historical facts may be “forward-looking statements” that involve risks and uncertainties. Forward-looking statements are based on management’s current, preliminary expectations and are subject to risks and uncertainties that could cause actual results to differ from the results predicted. These risks and uncertainties include, but are not limited to, the risk that the Company may not achieve inclusion in the Russell 3000. The Company does not assume, and specifically disclaims, any obligation to update forward-looking statements.