Bel Fuse tumbles ahead of S&P 600 removal

Strategic Education

28/07/2021 16:46

** Bel Fuse Class B shares  BELFB.O  down 11.93% at $11.22; on
pace for biggest daily pct drop since June 11, 2020
    ** S&P Dow Jones Indices announced late Tuesday the maker of
products that power and connect electronic circuits will be
removed in the S&P SmallCap 600  .SPCY  as it is "no longer
representative of the small-cap market space," effective prior
to the open of trading on Aug. 3
    ** Bel Fuse shares down more than 25% YTD vs 11.3% gain in
the S&P small cap tech sector  .SPSMCT 
    ** Forward PE of Bel Fuse is 17.7, per Refintiiv data, above
the long-term average of 12.18 for the stock    
    ** Strategic Education  STRA.O , up 7.69% and on track for
its biggest daily pct gain since Nov. 4, will replace Bel Fuse
in the index
    ** Other changes announced by S&P include Lakeland Financial
  LKFN.O  joining the S&P 600, replacing Gamestop  GME.N , which
is moving to the S&P MidCap 400  .IDX   urn:newsml:reuters.com:*:nPnc42jWra urn:newsml:reuters.com:*:nL1N2P4118

 (Reporting by Chuck Mikolajczak)
 ((charles.mikolajczak@tr.com; @ChuckMik;))