Alignment Healthcare Set to Join S&P SmallCap 600

Rhea-AI Summary

Alignment Healthcare (NASD: ALHC) will join the S&P SmallCap 600 effective before trading opens on May 14, 2026, replacing Sun Country Airlines Holdings (NASD: SNCY). The change follows Allegiant Travel (NASD: ALGT) agreeing to acquire Sun Country, pending final closing conditions.

AI-generated analysis. Not financial advice.

Positive

• Alignment Healthcare (ALHC) added to S&P SmallCap 600 effective May 14, 2026
• Allegiant Travel (ALGT) acquisition of Sun Country expected to close, pending conditions

Negative

• None.

Key Figures

Q1 2026 revenue: $4,171 million Q1 2025 revenue: $3,777 million Revenue growth: 10% +5 more

8 metrics

Q1 2026 revenue $4,171 million From 10-Q, first-quarter 2026

Q1 2025 revenue $3,777 million Prior-year quarter comparison

Revenue growth 10% Q1 2026 vs Q1 2025

Operating profit $2,002 million Q1 2026 operating profit

Operating margin 48% Q1 2026 GAAP operating margin

GAAP diluted EPS $4.69 Q1 2026 GAAP EPS

Share repurchases $1.0 billion Q1 2026 buybacks under repurchase programs

Dividend per share $0.97 Q1 2026 quarterly dividend

Market Reality Check

Price: $421.00 Vol: Volume 2,095,726 vs 20-da...

normal vol

$421.00 Last Close

Volume Volume 2,095,726 vs 20-day average 1,821,482 (relative volume 1.15). normal

Technical Price $421 trades below 200-day MA $486.92 and 27.29% below 52-week high.

Peers on Argus

Peers MCO, ICE, CME, MSCI and NDAQ all show modest gains (from 0.03% to 1.78%), ...

Peers MCO, ICE, CME, MSCI and NDAQ all show modest gains (from 0.03% to 1.78%), similar to SPGI’s 0.21% move, but no peers appear in the momentum scanner, indicating limited sector-wide momentum.

Common Catalyst Same-day peer headlines for ICE and NDAQ center on operational and listing updates rather than broad index-related changes.

Historical Context

5 past events · Latest: May 08 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
May 08	Spin-off governance	Positive	-2.0%	Announced board of directors for planned Mobility Global spin-off.
May 07	Index reshuffle	Neutral	-2.0%	Announced SmallCap 600 additions and deletions for other companies.
May 07	Form 10 filing	Positive	-2.0%	Filed Form 10 for planned separation of Mobility Global division.
May 07	Product expansion	Positive	+1.2%	Launched 16 new Platts price assessments in global cement markets.
May 06	Product launch	Positive	-0.1%	CARFAX introduced Homegrown badge for dealership-serviced used vehicles.

Pattern Detected

Recent index and corporate-structure announcements often coincided with flat to negative moves, while product expansion news saw the clearest positive reaction.

Recent Company History

Over the past week, SPGI issued several updates, including the planned spin-off of Mobility Global and multiple index composition changes affecting other companies. Product expansion at S&P Global Energy with 16 new Platts assessments on May 7 coincided with a 1.21% gain, while news on the Mobility Global Form 10 and SmallCap 600 revisions each saw -2% reactions. This index-change announcement fits into an active period of portfolio and index management activity.

Market Pulse Summary

This announcement highlights S&P Dow Jones Indices’ role in updating benchmarks, with Alignment Heal...

Analysis

This announcement highlights S&P Dow Jones Indices’ role in updating benchmarks, with Alignment Healthcare joining the S&P SmallCap 600 and Sun Country Airlines exiting as an acquisition progresses. For SPGI, it adds to a busy period that included strong Q1 2026 results with revenue of $4,171 million and a 48% operating margin. Investors tracking SPGI may watch future index methodology or composition changes alongside progress on the Mobility Global spin-off.

Key Terms

s&p smallcap 600, gics sector, dow jones industrial average

3 terms

s&p smallcap 600 financial

"Alignment Healthcare Inc. (NASD: ALHC) will replace Sun Country Airlines... in the S&P SmallCap 600"

A stock market index made up of 600 small-cap U.S. companies chosen to represent the performance of smaller publicly traded firms. It matters to investors because it acts like a temperature gauge for the small-company segment of the market, serving as a benchmark for fund managers, a basis for index funds and ETFs, and a way to compare returns and risk when building a diversified portfolio.

gics sector financial

"Effective Date | Index Name | Action | Company Name | Ticker | GICS Sector"

GICS sector is one of the major industry groupings from the Global Industry Classification Standard, a system that sorts companies into consistent categories (like Technology or Health Care) based on the primary business they do. Investors use these sectors like folders in a filing cabinet to compare companies, build diversified portfolios, and track how whole parts of the market are performing rather than focusing on single stocks.

dow jones industrial average financial

"home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®."

A stock market index that tracks the share prices of a small group of large, well-known companies to give a quick snapshot of how the broader market is doing. Think of it like a thermometer for the stock market: it uses a handful of heavyweight firms as representative samples to show whether investor sentiment is rising or falling, which helps investors gauge market trends and compare performance over time.

AI-generated analysis. Not financial advice.

NEW YORK, May 11, 2026 /PRNewswire/ -- Alignment Healthcare Inc. (NASD: ALHC) will replace Sun Country Airlines Holdings Inc. (NASD: SNCY) in the S&P SmallCap 600 effective prior to the opening of trading on Thursday, May 14. S&P SmallCap 600 constituent Allegiant Travel Co. (NASD: ALGT) is acquiring Sun Country Airlines Holdings in a deal expected to close soon, pending final closing conditions.

Following is a summary of the changes that will take place prior to the open of trading on the effective date:

Effective Date	Index Name	Action	Company Name	Ticker	GICS Sector
May 14, 2026	S&P SmallCap 600	Addition	Alignment Healthcare	ALHC	Health Care
May 14, 2026	S&P SmallCap 600	Deletion	Sun Country Airlines Holdings	SNCY	Industrials

ABOUT S&P DOW JONES INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.

S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spglobal.com/spdji/en/.

FOR MORE INFORMATION:

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View original content:https://www.prnewswire.com/news-releases/alignment-healthcare-set-to-join-sp-smallcap-600-302768757.html

SOURCE S&P Dow Jones Indices

FAQ

When will Alignment Healthcare (ALHC) be added to the S&P SmallCap 600 index?

Alignment Healthcare will be added to the S&P SmallCap 600 before trading opens on May 14, 2026. According to S&P Dow Jones Indices, ALHC will replace Sun Country Airlines Holdings as part of a scheduled index change.

Which company is Alignment Healthcare (ALHC) replacing in the S&P SmallCap 600?

Alignment Healthcare is replacing Sun Country Airlines Holdings (SNCY) in the S&P SmallCap 600. According to S&P Dow Jones Indices, the change becomes effective prior to the market open on May 14, 2026, coinciding with index rebalancing.

Why is Sun Country Airlines (SNCY) being removed from the S&P SmallCap 600?

Sun Country Airlines is being removed because Allegiant Travel (ALGT) is acquiring the company. According to S&P Dow Jones Indices, the deal is expected to close soon, pending final closing conditions, prompting SNCY’s deletion from the index.

How is Allegiant Travel (ALGT) involved in the S&P SmallCap 600 changes on May 14, 2026?

Allegiant Travel, an existing S&P SmallCap 600 constituent, is acquiring Sun Country Airlines. According to S&P Dow Jones Indices, this pending acquisition leads to SNCY’s removal and Alignment Healthcare’s addition to maintain the index’s composition.

What sector will Alignment Healthcare (ALHC) represent in the S&P SmallCap 600 index?

Alignment Healthcare will represent the Health Care sector in the S&P SmallCap 600. According to S&P Dow Jones Indices, ALHC is being added as a Health Care company when it joins the index effective May 14, 2026.

What is the effective date of the S&P SmallCap 600 changes involving ALHC and SNCY?

The effective date for these index changes is May 14, 2026, before the market opens. According to S&P Dow Jones Indices, Alignment Healthcare will be added and Sun Country Airlines will be deleted on this date.