The middle market is facing the least hospitable M&A climate in years. With confidence low, credit tight and politics uncertain, the volume of deals that closed in the first quarter fell to levels last seen in the wake of the Lehman Bros. collapse. And while some sunlight peeked through the clouds as corporate divestitures soared at the end of the quarter, the moment didn’t last. Dealmakers on the lookout for signs of change in the spring found little to justify their hopes that activity in the second half of the year will prove more fruitful.

A look at the recent data on deal volume and value is discouraging. According to Mergers & Acquisitions’ analysis of the numbers from Thomson Reuters, only 330 middle-market transactions closed in the first quarter of 2016, the lowest deal volume for any period since the first quarter of 2009. (See related chart). At that point in time, the financial world was reeling from Lehman’s bankruptcy, and merely 236 mid-market deals were completed.

One factor contributing to the M&A slow-down is the tightening of credit, as reported in depth in our May cover story. In February, the Availability of Financing component of our Mid-Market M&A Conditions Index (MACI) was at its lowest level since we began the monthly polls in 2013. The Availability of Financing has been rising since the low point but is still under 50, indicating a contraction.

Traditional banks continue to face regulatory scrutiny about how much leverage they should supply to private equity transactions, which has caused them to shy away from lending to PE-backed deals. Capital constraints and shareholder activism are putting pressure on publicly-traded business development companies, or BDCs. And collateralized loan obligation, or CLO, issuances are decreasing because of risk retention regulations. Non-traditional lenders have stepped up, but the loan environment is still challenging for PE firms trying to close deals.

At $59.4 billion, deal value in the first quarter of 2016 was the lowest since the same period in 2012 (also an election year). The first quarter of 2012 was another low point for the middle market in recent history. But in the case of 2012, the fourth quarter made up for the loss, and the total for the year proved healthy. Many dealmakers tell Mergers & Acquisitions they hope for a similar turnaround later in 2016.

One trend that may help boost M&A later in the year is that many corporations are engaged in a disciplined practice of shedding slow-growth product lines to focus on faster-growing brands. In March, the Divestitures component of MACI soared to 88.3. Among the companies divesting are Newell Rubbermaid (NYSE: NWL) and Procter & Gamble Co. (NYSE: PG). Although the Divestitures score dropped down to 56.5 in April, that’s still on the expansion side of the index, and we expect to see more corporate spin-offs throughout 2016.

In the short term, one cause of the paralysis in M&A is the uncertainty of an election year. A telling example is found in the health care sector. As we reported in the May issue of Mergers & Acquisitions, expectations for M&A in health care have plummeted over the last year, according to the Mid-Market Pulse (MMP), a sentiment indicator based on our monthly surveys. Previously, the health care industry received the highest scores of the six high-growth sectors we measure. In recent years, consolidation in the sector has been driven by the Affordable Care Act, as providers have wielded M&A to become more efficient. Many poll respondents expressed uncertainty about the future of the ACA, due to the potential for a political party change in the presidency.

Which presidential candidate would be more auspicious for dealmaking overall is debatable. Although traditionally, Republicans are perceived as more business-friendly, the current campaign season is anything but traditional. One recent survey conducted by Intralinks reports that 46 percent of U.S. transaction professionals believe presumptive Republican nominee Donald Trump would have a negative impact on M&A, as compared with 31 percent saying the same of Democratic frontrunner Hillary Clinton.

Certainty is one of the prerequisites for a healthy M&A environment. One thing is certain. Whoever wins the presidency, once the election is over, there will be more certainty.

See the table below for middle-market transactions that closed in Q1.

Editor’s Note: To measure activity in the middle market, Mergers & Acquisitions looks at transactions that fulfill several requirements: Deals must have a value of roughly $1 billion or less; they must be completed (not just announced) within the timeframe designated; and they must include at least one U.S. company in the role of buyer and/or seller. Excluded from our charts are: recapitalizations; self tenders; exchange offers; repurchases; stake purchases; and transactions with undisclosed values, buyers or sellers. Our data provider is Thomson Reuters, which updates its databases continuously. We use the data available at press time.

Key Middle-Market M&A Deals Completed in Q1 2016

DateAcquirerTargetTarget IndustryValue ($mil)
02/01/16Coty IncHypermarcas SA-Beauty BusinessSoaps, Cosmetics, and Personal-Care Products986.0
03/01/16Sun Life Assurance Co of CanadDisability ReIns Mgmt Svcs IncInsurance975.0
01/22/16DSV A/SUTi Worldwide IncTransportation and Shipping (except air)970.8
01/15/16Pinnacle Foods IncBoulder Brands IncWholesale Trade-Nondurable Goods962.5
03/03/16Entergy CorpUnion Power Partners-UnionElectric, Gas, and Water Distribution948.0
02/04/16Icahn Enterprises LPThe PEP Boys-Manny Moe & JackMiscellaneous Retail Trade894.0
03/09/16Lupin LtdGAVIS Pharms LLC,Novel LabsDrugs880.0
02/02/16NetApp IncSolidFire IncComputer and Office Equipment870.0
01/26/16Amadeus IT Group SANavitaire IncPrepackaged Software830.0
02/01/16comScore IncRentrak CorpBusiness Services813.2
02/05/16Mattress Firm Holding CorpHMK Mattress Holdings LLCRetail Trade-Home Furnishings780.0
03/01/16Fluor CorpStork Holding BVMachinery756.2
03/22/16Lone Star FundsN&W Global Vending SpAMachinery751.4
03/14/16Western Gas Partners LPSpringfield Pipeline LLCOil and Gas; Petroleum Refining750.0
01/15/16Protective Life CorpGenworth Life & Annuity-In-forInsurance661.0
03/01/16Country Club Plaza KCHighwoods Ppty Inc-CountryReal Estate; Mortgage Bankers and Brokers660.0
02/01/16TransCanada CorpTalen Energy Corp-IronwoodElectric, Gas, and Water Distribution654.0
02/11/16IHS IncOil Price Information ServiceBusiness Services650.0
01/11/16Kinross Gold CorpBarrick Gold Corp-Bald Mtain &Mining610.0
01/01/16Treasury Wine Estates LtdDiageo PLC-US & UK Wine OpFood and Kindred Products600.0
02/01/16Financial Engines IncMutual Fund Store LLCInvestment & Commodity Firms,Dealers,Exchanges584.0
02/01/16Blackstone Group LPImmofinanz AG-LogisticsReal Estate; Mortgage Bankers and Brokers580.7
03/22/16Rizvi Traverse Management LLCRealD IncCommunications Equipment560.1
02/01/16CACI International IncL-3 Natl Sec Solutions IncBusiness Services550.0
03/01/16Sazerac Co IncBrown-Forman-Brand AssetsFood and Kindred Products543.5
01/21/16Svenska Cellulosa AB SCAWausau Paper CorpPaper and Allied Products514.5
01/14/16Horizon Pharma PLCCrealta Pharmaceuticals LLCDrugs510.0
02/05/16Calpine CorpGranite Ridge Hldg-Energy CtrElectric, Gas, and Water Distribution500.0
02/18/16Cipla (EU) LtdInvaGen Pharmaceuticals IncDrugs500.0
03/15/16GTCR LLCLytx IncBusiness Services500.0
02/05/16Haosheng Investment Co LtdARCAS Automotive Group LLCTransportation Equipment491.2
01/07/16Dover CorpTokheim-Dispenser & System BusMachinery474.3
02/13/16FNB Corp,Naples,Hermitage,PAMetro Bancorp Inc,HarrisburgCommercial Banks, Bank Holding Companies463.5
02/29/16Wipro LtdHealthPlan Holdings IncInsurance460.0
01/07/16Lamar Advertising CoClear Channel Outdoor Hldg-AssAdvertising Services458.5
03/02/16Harrison Street Re Capital LLCCampus Crest Communities IncInvestment & Commodity Firms,Dealers,Exchanges455.2
01/15/16PulteGroup IncJW Homes LLC-Certain AssetsConstruction Firms450.0
03/01/16Yadkin Financial CorpNewBridge BancorpCommercial Banks, Bank Holding Companies449.4
02/01/16CST Brands IncFlash Foods IncRetail Trade-Food Stores425.0
01/07/16Symrise AGPinova Holdings IncChemicals and Allied Products417.0
02/16/16Gray Television IncSchurz Commun Inc-Tv & RadioRadio and Television Broadcasting Stations415.3
02/11/16NuVasive IncEllipse Technologies IncMeasuring, Medical, Photo Equipment; Clocks410.0
02/01/16Mallinckrodt PLCThe Medicines Co-HemostasisDrugs410.0
03/04/16Select Medical Holdings CorpPhysiotherapy Assoc Hldg IncHealth Services400.0
03/17/16Thales SAVormetric IncPrepackaged Software400.0
02/04/16MAP Fee Owner LLCBrandywine Rlty Tr-OfficeReal Estate; Mortgage Bankers and Brokers398.1
03/01/16DaVita HealthCare Partners IncThe Everett Clinic IncHealth Services385.0
01/29/16NorthStar Asset Mgmt Grp IncTownsend Holdings LLCInvestment & Commodity Firms,Dealers,Exchanges380.0
02/24/16RREEF Funds LLCWest 8th,Seattle,WashingtonReal Estate; Mortgage Bankers and Brokers370.0
02/10/16Astellas Pharma IncOcata Therapeutics IncDrugs362.7
02/01/16Kinder Morgan IncBP Products NA-Terminals(15)Oil and Gas; Petroleum Refining350.0
02/02/16Securitas ABDiebold Inc-BusinessElectronic and Electrical Equipment350.0
03/25/16Littelfuse IncTE Connectivity-Circuit BusElectronic and Electrical Equipment350.0
03/02/16Sinclair Broadcast Group IncTennis Channel IncRadio and Television Broadcasting Stations350.0
02/01/16ArcLight Capital Partners LLCTransMontaigne GP LLCOil and Gas; Petroleum Refining350.0
01/15/16Zayo Group Holdings IncMTS Allstream Holdings IncTelecommunications348.5
03/09/16Web.com Group IncYodle IncAdvertising Services342.0
02/23/16Comtech Telecommun CorpTeleCommunication Systems IncPrepackaged Software329.7
01/11/16Liberty Utilities CoPark Water CoElectric, Gas, and Water Distribution327.0
03/11/16SS&C Technologies Holdings IncCitigroup Inc-Alternative InvInvestment & Commodity Firms,Dealers,Exchanges321.0
03/04/16Cisco Systems IncLeaba Semiconductor LtdElectronic and Electrical Equipment320.0
03/09/16ISQ Global Infrastructure FundWPX Energy Inc-San Juan BasinOil and Gas; Petroleum Refining309.0
02/04/16Honeywell International IncCOM DEV International LtdElectronic and Electrical Equipment308.4
03/01/16Cerberus Capital Management LPAvon Prod Inc-N Amer BusSoaps, Cosmetics, and Personal-Care Products300.0
03/09/16Trend Micro IncTippingPoint Technologies IncComputer and Office Equipment300.0
02/26/16Computer Sciences CorpUXC LtdBusiness Services296.7
01/05/16Omnicell IncAesynt IncPrepackaged Software275.0
01/05/16Smith & Nephew PLCBlue Belt Holdings IncMeasuring, Medical, Photo Equipment; Clocks275.0
01/14/16FireEye InciSIGHT Partners IncBusiness Services275.0
01/07/16Sinocare IncNipro Diagnostics IncMeasuring, Medical, Photo Equipment; Clocks273.0
01/04/16CONMED CorpSurgiQuest IncMeasuring, Medical, Photo Equipment; Clocks265.0
01/13/16HEICO Electn Tech CorpRobertson Fuel Systems LLCAerospace and Aircraft255.0
03/21/16Summit Materials IncBoxley Materials CoStone, Clay, Glass, and Concrete Products252.1
02/01/16Hudson's Bay CoGilt Groupe IncMiscellaneous Retail Trade250.0
03/16/16Keane Group Holdings LLCTrican Well Svc Ltd-US AstsConstruction Firms247.0
01/06/16UOP LLCThomas Russell LLCConstruction Firms240.0
01/01/16Metro-Goldwyn-Mayer IncUAMG LLCMotion Picture Production and Distribution233.9
02/03/16Cubic CorpGATR Technologies IncCommunications Equipment232.5
03/22/16RPX CorpInventus LLCBusiness Services232.0
01/04/16Westinghouse Electric Co LLCCB&I Stone & Webster IncBusiness Services229.0
02/08/16Prestige Brands Holdings IncDenTek Oral Care IncSoaps, Cosmetics, and Personal-Care Products225.0
03/17/16IDEX CorpAkron Brass CoMetal and Metal Products224.2
02/03/16AIM Aerospace Inc SPVAIM Aerospace IncAerospace and Aircraft220.0
01/05/16Shorenstein Realty Services LPBank of America Plaza,AtlantaReal Estate; Mortgage Bankers and Brokers220.0
02/03/16Investor GroupResolution Ppty-DesignerReal Estate; Mortgage Bankers and Brokers218.6
02/29/16AptarGroup IncMegaPlast GmbHRubber and Miscellaneous Plastic Products215.9
03/02/16Greystar Equity Partners VIIIThe Chelsea,Chelsea,NYReal Estate; Mortgage Bankers and Brokers211.3
03/21/16Helen of Troy LtdSteel Technology LLCMiscellaneous Manufacturing210.0
01/26/16Northwood Investors LLCCeGeREAL SAInvestment & Commodity Firms,Dealers,Exchanges208.7
01/05/16TransDigm Group IncBreeze-Eastern CorpAerospace and Aircraft205.9
02/03/16Endologix IncTriVascular Technologies IncMeasuring, Medical, Photo Equipment; Clocks202.8
03/03/16Fiserv IncACI Worldwide Inc-Cmnty FinlPrepackaged Software200.0
01/15/16Investor GroupEastridge Mall,San Jose,CAReal Estate; Mortgage Bankers and Brokers200.0
01/20/16Brunswick CorpCYBEX International IncMiscellaneous Manufacturing195.0
01/04/16Quality Systems IncHealthFusion Holdings IncPrepackaged Software190.0
01/04/16Audax Group LPCentric Health Corp-OperationsHealth Services188.0
02/18/16Chr Hansen Holding A/SNutrition Physiology CorpBusiness Services185.0
01/07/16Limetree Bay Holdings LLCHovensa LLC-St Croix RefineryOil and Gas; Petroleum Refining184.0
02/29/16Investcorp Real Estate Group733 10th Street,Washington,DCReal Estate; Mortgage Bankers and Brokers180.0
01/31/16Ligand Pharmaceuticals IncOpen Monoclonal Technology IncDrugs178.0
01/29/16Global Jet Capital IncGen Elec Co-CorporateCredit Institutions175.0
01/26/16Tyco International PLCShopperTrak CorpBusiness Services175.0
01/04/16Church & Dwight Co IncSpencer Forrest IncSoaps, Cosmetics, and Personal-Care Products175.0
02/08/16DRA Advisors LLCTriangle Town CtrReal Estate; Mortgage Bankers and Brokers174.0
01/19/16Armada Hoffler Properties IncRetail Center Portfolio(11)Retail Trade-General Merchandise and Apparel170.5
02/05/16AMETEK IncBrookfield Engineering LabsMeasuring, Medical, Photo Equipment; Clocks167.0
02/01/16Onexim Sports & EntertainmentBarclays CenterAmusement and Recreation Services162.6
01/14/16Liberty Intl Holdings IncCia de Seg Genes PentaInsurance162.6
01/29/16Guardian Life Ins CoAvesis IncInsurance162.3
01/04/16AMN Healthcare Services IncBE Smith IncBusiness Services160.0
02/29/16Piper Jaffray CosSimmons & Co InternationalInvestment & Commodity Firms,Dealers,Exchanges160.0
01/14/16Federal Realty Invstmnt TrustReal Estate Property PortfolioReal Estate; Mortgage Bankers and Brokers154.0
01/14/16Sabre CorpTrust Group of CompaniesTransportation and Shipping (except air)154.0
03/31/16Swiss Re Corporate SolutionsIHC Risk Solutions LLCInsurance152.5
02/02/16The Michaels Companies IncLamrite West IncRetail Trade-General Merchandise and Apparel150.0
03/04/16Investor GroupImmobiliare Laurentiana SrlReal Estate; Mortgage Bankers and Brokers142.4
02/05/16Halma PLCCenTrak IncMeasuring, Medical, Photo Equipment; Clocks140.0
03/01/16The Dow Chemical CoChemours Co-Aniline FacilityChemicals and Allied Products140.0
03/15/16BlueRoad VenturesBrauwin RE-Ret Asts(48)Real Estate; Mortgage Bankers and Brokers139.0
01/08/16Investor GroupLaSalle Invest Mgmt- BESTReal Estate; Mortgage Bankers and Brokers138.9
03/21/16Heritage Insurance Hldg IncZephyr Insurance Co IncInsurance134.0
02/02/16Hillenbrand IncRed Valve Co IncMetal and Metal Products131.9
01/21/16AMETEK IncESP/SurgeXMeasuring, Medical, Photo Equipment; Clocks130.0
01/20/16CryoLife IncOn-X Life Technologies IncMeasuring, Medical, Photo Equipment; Clocks130.0
02/01/16AvalonBay Communities IncDSF Grp-Halstead 800 MadisonReal Estate; Mortgage Bankers and Brokers129.7
03/17/16CalAmp CorpLoJack CorpCommunications Equipment129.3
02/23/16Haymaker Minerals & RoyaltiesChesapeake Energy-mineralsOil and Gas; Petroleum Refining128.0
02/01/16Westmoreland Coal CoBHP Billiton Ltd-San Juan MineMining127.0
02/05/16Pozen IncTribute Pharm Canada IncDrugs125.2
02/01/16Onexim Sports & EntertainmentBrooklyn Nets Basketball TeamAmusement and Recreation Services125.1
01/11/16Juno Therapeutics IncAbVitro IncDrugs124.9
03/01/16Honeywell International IncRSI Video TechnologiesBusiness Services123.0
02/01/16Pacific Premier Bancorp IncSecurity California BancorpCommercial Banks, Bank Holding Companies118.9
01/12/16PTC IncKepware IncPrepackaged Software118.0
03/04/16DSW InceBuys IncBusiness Services117.5
02/01/16Balchem CorpAlbion Laboratories IncDrugs111.5
01/06/16Preferred Apartment CommunitieThe Village,Orlando,FloridaReal Estate; Mortgage Bankers and Brokers110.7
02/15/16Investor GroupLion Walk Shopping CentreReal Estate; Mortgage Bankers and Brokers110.4
03/17/16First Midwest Bancorp IncNI Bancshares Corp,ILSavings and Loans, Mutual Savings Banks105.5
01/20/16WestRock CoCenveo Inc-Packaging BusinessPaper and Allied Products105.0
02/29/16GoPro IncVemory IncPrepackaged Software105.0
02/16/16PGT IncWinDoor IncMetal and Metal Products105.0
03/29/16Thai Hot Investment Co LtdAlliance HealthCare Svcs IncHealth Services102.5
02/01/16Hooker Furniture CorpHome Meridian Intl IncWood Products, Furniture, and Fixtures100.0
03/03/16Zagg IncMophie IncRubber and Miscellaneous Plastic Products100.0
03/17/16Related Coml Portfolio LtdRelated Cos LP-60 ColumbusReal Estate; Mortgage Bankers and Brokers100.0
01/13/16Advantech Co LtdB+B SmartWorx IncElectronic and Electrical Equipment99.9
02/25/16Scripps Networks InteractiveThe Travel Channel LLCRadio and Television Broadcasting Stations99.0
03/21/16Celladon CorpEiger BioPharmaceuticals IncDrugs92.7
02/08/16Gateway Realty Holdings LtdMulti-family Properties,CTReal Estate; Mortgage Bankers and Brokers92.5
01/25/16Rambus IncSmart Card Software LtdPrepackaged Software92.3
03/28/16Finmarc Management IncFirst Potomac Rlty Tr-CertReal Estate; Mortgage Bankers and Brokers90.5
01/07/16Allergan PLCAnterios IncDrugs90.0
01/21/16Westbrook Partners LLCSynergy Invests LLC & GreenReal Estate; Mortgage Bankers and Brokers90.0
02/29/16Harmonic IncThomson Video Networks SASUTelecommunications90.0
03/01/16German American Bancorp,INRiver Valley BancorpCommercial Banks, Bank Holding Companies87.2
01/08/16Taylor Morrison Home CorpAcadia Homes & NeighborhoodsConstruction Firms85.0
01/11/16Sotheby'sArt Agcy Partners Hldg LPBusiness Services85.0
02/18/16Aegion CorpUnderground Solutions IncConstruction Firms85.0
02/08/16Heartland Financial USA IncCIC Bancshares IncCommercial Banks, Bank Holding Companies83.5
02/19/16RBB BancorpTFC Holding CoCommercial Banks, Bank Holding Companies83.3
01/28/16Joes Jeans IncRobert Graham Holdings LLCRetail Trade-General Merchandise and Apparel82.5
01/06/16The Wolff Co LLCOne Observatory ParkReal Estate; Mortgage Bankers and Brokers82.5
02/01/16A&B Properties IncManoa MarketplaceReal Estate; Mortgage Bankers and Brokers82.4
03/03/16Ampco-Pittsburgh CorpAkers ABMetal and Metal Products80.0
02/09/16Almirall SAThermigen LLCMeasuring, Medical, Photo Equipment; Clocks80.0
03/14/16Seacoast Bkg Corp of FloridaFloridian Financial Group IncCommercial Banks, Bank Holding Companies78.6
01/15/16Liberty Bank,Middletown,CTNaugatuck Valley Finl CorpSavings and Loans, Mutual Savings Banks77.8
01/04/16Kennedy Wilson IncMoraleja Green Commercial CtrReal Estate; Mortgage Bankers and Brokers77.2
03/01/16Orora LtdIntegracolor LLCPrinting, Publishing, and Allied Services77.0
02/05/16Investor GroupMenin Dvlp Inc-ShoppesReal Estate; Mortgage Bankers and Brokers77.0
01/04/16Prosperity Bancshares IncTradition Bancshares IncCommercial Banks, Bank Holding Companies76.9
03/04/16Vestar Development CoBowles Crossing,,LittletonReal Estate; Mortgage Bankers and Brokers76.0
02/07/16Woodford Creek Farms LLPChristensen-Hog FarmAgriculture, Forestry, and Fishing75.8
03/14/16ShareholdersQIG Group LLCBusiness Services75.7
03/15/16II-VI IncANADIGICS IncElectronic and Electrical Equipment75.5
03/14/16CTS CorpCTG Advanced Materials LLCMiscellaneous Retail Trade73.0
02/03/16PolyOne CorpKraton Performance-BusinessRubber and Miscellaneous Plastic Products72.0
02/07/16Seaboard Foods LLCChristensen & Feedlots-Cert AAgriculture, Forestry, and Fishing71.9
01/01/16Park Sterling CorpFirst Capital BancorpCommercial Banks, Bank Holding Companies71.8
01/04/16First Merchants CorpAmeriana BancorpCommercial Banks, Bank Holding Companies69.6
02/04/16Xylem IncTideland Signal CorpMeasuring, Medical, Photo Equipment; Clocks69.0
03/07/16RealPage IncNWP Svcs CorpBusiness Services68.0
03/02/16CenterState Banks,Davenport,FLCmnty Bk of S Florida IncCommercial Banks, Bank Holding Companies66.9
03/24/16Meridian Bioscience IncMagellan Biosciences IncMeasuring, Medical, Photo Equipment; Clocks66.0
01/05/16CoreLogic IncRELS LLCBusiness Services65.0
01/29/16Diamond Resorts InternationalIntrawest Resort Club Group CoHotels and Casinos63.9
01/04/16Amedisys IncInfinity HomeCare LLCHealth Services63.0
02/01/16Homestreet IncOrange County Business BankCommercial Banks, Bank Holding Companies62.7
02/08/16Classic Hotels & ResortsFireSky Resort & SpaHotels and Casinos62.5
01/11/16ExamWorks Group IncABI Document Support Svcs IncBusiness Services62.0
01/04/16Navigant Consulting IncMcKinnis Consulting ServicesInvestment & Commodity Firms,Dealers,Exchanges62.0
01/07/16Eagle Creek Renewable EnergyVerso Androscoggin Power LLCElectric, Gas, and Water Distribution62.0
03/30/16Actuant CorpFourQuest MENACOil and Gas; Petroleum Refining60.0
02/29/16Fortuna Realty Group LLCWyndham Garden ManhattanHotels and Casinos60.0
02/04/16Boardwalk Properties FLBar Invest Grp-multifamilyReal Estate; Mortgage Bankers and Brokers59.0
03/11/16Ameris BancorpJacksonville Bancorp IncCommercial Banks, Bank Holding Companies58.9
03/15/16Prophet Equity LLCTotal Plastics(AM Castle & Co)Wholesale Trade-Nondurable Goods55.0
01/08/16Northfield Bancorp IncHopewell Valley Community BankCommercial Banks, Bank Holding Companies52.8
01/06/16First Cash Finl Services IncMaxi Prenda SA de CV-Pawn(166)Miscellaneous Retail Trade52.0
02/18/16Cipla (EU) LtdExelan Pharmaceuticals IncWholesale Trade-Nondurable Goods50.0
02/25/16MindTree LtdMagnet 360 LLCBusiness Services50.0
01/29/16Southern BancShares(NC)IncHeritage Bankshares Inc,VACommercial Banks, Bank Holding Companies48.3
02/16/16Sooner Pipe LLCMRC Global Inc-US OCTG BusWholesale Trade-Durable Goods48.0
01/25/16Retail Ppty of Americas IncMerrifield Town Center IIReal Estate; Mortgage Bankers and Brokers45.7
03/02/16Digital Barriers PLCBrimtek IncElectronic and Electrical Equipment45.0
01/04/16Amcor LtdDeluxe PackagesPaper and Allied Products45.0
01/08/16RNTS Media NVHeyzap IncPrepackaged Software45.0
02/08/16Infoblox IncIIDBusiness Services45.0
03/31/16Ascent Aerospace LLCGemcor II LLCMetal and Metal Products44.0
02/01/16II-VI IncEpiWorks IncElectronic and Electrical Equipment43.0
03/17/16magicJack VocalTec LtdNorth American TelecommunicatiPrepackaged Software42.0
02/29/16Citizens Bus Bnk,Ontario,CACounty Commerce Bank,VenturaCommercial Banks, Bank Holding Companies41.3
01/07/16Lakeland Bancorp IncPascack Bancorp IncCommercial Banks, Bank Holding Companies40.8
02/24/16Blommer Chocolate CoChocolate Manufacturing PlantFood and Kindred Products40.0
02/02/16Tower Semiconductor LtdMaxim Integrated Prod-fabricatElectronic and Electrical Equipment40.0
01/13/16ADVA Optical Networking SEOverture Networks IncPrepackaged Software40.0
02/01/16Larkin Community HospitalPalm Springs General HospitalHealth Services40.0
02/12/16Huvepharma IncZoetis Inc-certain assetsDrugs40.0
01/04/16Cedar Realty Trust IncE River Pk ShoppingReal Estate; Mortgage Bankers and Brokers39.0
01/15/16Ainsworth Game Technology LtdNova Technologies LLCMiscellaneous Manufacturing38.0
01/05/16Almost Family IncLong Term Solutions IncHealth Services37.0
01/29/16Learning Technologies GroupRustici Software LLCPrepackaged Software37.0
01/07/16Peak Resorts IncHunter Mountain Ski Bowl IncHotels and Casinos36.8
01/01/16Digirad CorpProject Rendezvous Hldg CorpHealth Services36.0
01/25/16Sterno Products LLCNorthern International IncElectronic and Electrical Equipment35.4
01/08/16NexTier IncEureka Financial CorpSavings and Loans, Mutual Savings Banks35.3
02/03/16Clean Harbors IncVertex Energy Inc-Re-RefinerySanitary Services35.0
01/29/16Control4 CorpPakedge Device & Software IncCommunications Equipment32.7
01/19/16CIENA CorpTeraXion Inc-High SpeedMetal and Metal Products31.9
01/19/16ExamWorks Group IncAdvanced Medical Reviews IncHealth Services30.0
03/31/16Wintrust Financial CorpGenerations Bancorp IncCommercial Banks, Bank Holding Companies30.0
01/08/16Investor GroupInterocean Transportation IncTransportation and Shipping (except air)30.0
02/10/16Constellation Healthcare TechMDRx Enterprises IncHealth Services30.0
02/12/16Driftwood Hospitality Mgmt LLCSaratoga Hilton,New YorkHotels and Casinos30.0
03/03/16GBC Oil Co LtdStream Oil & Gas LtdOil and Gas; Petroleum Refining29.3
02/02/16Synoptek IncEarthLink-IT Services BusinessBusiness Services29.0
03/02/16Natl Storage Affiliates TrustNAI Norwood Grp Inc-GraniteTransportation and Shipping (except air)28.8
03/01/16Amedisys IncAssociated Home CareHealth Services28.0
03/01/16Fidelity Southern CorpAmer Enterprise Bankshares IncCommercial Banks, Bank Holding Companies27.0
01/04/16Urban Edge PropertiesPan Bay Ctr,Rego Pk,New YorkReal Estate; Mortgage Bankers and Brokers27.0
01/25/16Retail Ppty of Americas IncShoppes at HagerstownReal Estate; Mortgage Bankers and Brokers27.0
03/01/16Superior Uniform Group IncBamko IncBusiness Services26.8
01/15/16Premier Finl Bancorp,WVFirst National Bankshares CorpCommercial Banks, Bank Holding Companies26.5
03/30/16Kohan Retail Investment GroupPennsylvania REIT-LycomingReal Estate; Mortgage Bankers and Brokers26.4
02/09/16CieNA Healthcare Mgmt IncLaurel Health Care CoHealth Services25.8
01/11/16IFCCity Mart Holdings Co LtdReal Estate; Mortgage Bankers and Brokers25.0
02/15/16Genesis Energy LPDeepwater Gateway LLCOil and Gas; Petroleum Refining25.0
02/29/16Lippert Components IncFlair Interiors Inc - CertWood Products, Furniture, and Fixtures25.0
02/29/16Patrick Industries IncParkland Plastics IncRubber and Miscellaneous Plastic Products25.0
01/12/16KBR IncWeatherly IncConstruction Firms24.5
02/18/16KeepItSafe IncInterCloud Sys Inc-OnlineBusiness Services24.0
03/24/16Entertainment One LtdRenegade 83 IncRadio and Television Broadcasting Stations23.0
02/12/16Argosy Private EquityNationwide Industries IncMetal and Metal Products22.5
01/12/16Allied Motion Technologies IncHeidrive GmbHTransportation Equipment21.9
01/14/16InvenTrust Properties CorpSonterra Village ShoppingReal Estate; Mortgage Bankers and Brokers21.5
02/25/16Investor GroupAPR Energy PLCElectric, Gas, and Water Distribution20.5
01/07/16Militello CapitalViera at Whitemarsh ApartmentsReal Estate; Mortgage Bankers and Brokers20.4
02/08/16Flamel Technologies SAFSC Holdings LLCInvestment & Commodity Firms,Dealers,Exchanges20.3
01/26/16Marathon Asset Management LPParque Comercial Bahia AzulReal Estate; Mortgage Bankers and Brokers20.1
03/24/16Revere Bank,Laurel,MarylandBlueridge Bank,Frederick,MDCommercial Banks, Bank Holding Companies20.0
01/04/16Gulf Island Shipyards LLCLEEVAC Shipyards LLCTransportation Equipment20.0
02/10/16AiNetOne Market Center,Baltimore,MDBusiness Services20.0
03/10/16Revizer Technologies Ltdsterkly LLCPrepackaged Software20.0
01/04/16Vishay Precision Group IncStress-Tek IncMeasuring, Medical, Photo Equipment; Clocks20.0
02/08/16Perk.com IncViggle Inc-Viggle BusinessPrepackaged Software19.7
03/16/16Renewable Energy Group IncSanimax Energy LLC-BiodieselElectric, Gas, and Water Distribution19.5
03/16/16Bain Capital LLCAsia Pacific Medical GroupHealth Services19.3
01/06/16Hempel CosRyan Cos US Inc-Ret PortfolioReal Estate; Mortgage Bankers and Brokers19.2
01/31/16Analogic CorpOncura Partners DiagnosticsHealth Services19.0
02/01/16Sevcon IncBASSI SrlElectronic and Electrical Equipment19.0
02/04/16Merit Medical Systems IncCryoLife Inc-HeRO GraftMeasuring, Medical, Photo Equipment; Clocks18.5
01/31/16TSC Auto ID Technology Co LtdPrintronix IncComputer and Office Equipment18.0
02/08/16Addus HealthCare IncS Shore Home Health Svcs IncHealth Services18.0
02/08/16GTT Communications IncTelnes BroadbandBusiness Services18.0
03/09/16Barnes & Noble Education IncLoudCloud Systems IncBusiness Services17.9
01/22/16StatPro Group PLCInvestor Analytics LLCInvestment & Commodity Firms,Dealers,Exchanges16.0
03/08/16Park Lawn CorpMidwest Memorial Group LLCReal Estate; Mortgage Bankers and Brokers16.0
02/02/16Carter Validus MissionAlpharetta Data Ctr III PptyReal Estate; Mortgage Bankers and Brokers15.8
01/01/16Amer Riviera Bk,Santa BarbaraBank of Santa Barbara,CACommercial Banks, Bank Holding Companies15.4
03/07/16Spark Therapeutics IncGenable Technologies LtdDrugs15.2
01/05/16Liquor Stores NA LtdBirchfield Ventures LLCMiscellaneous Retail Trade15.0
03/28/16General Atomics InternationalMiltec CorpAerospace and Aircraft14.6
01/06/16Financial Institutions IncCourier Capital CorpInvestment & Commodity Firms,Dealers,Exchanges14.0
01/13/16Carbonite IncEVault IncBusiness Services14.0
01/11/16SurModics IncNorMedix IncHealth Services14.0
03/02/16Boditech Med IncImmunostics IncDrugs13.6
03/02/16Cantel Medical CorpN Amer Science Assoc-DivisionMeasuring, Medical, Photo Equipment; Clocks13.5
01/29/16PBB BancorpFirst Mountain Bank,CACommercial Banks, Bank Holding Companies13.4
01/21/16Gramercy Property Trust IncParthenon Metal-WarehouseMetal and Metal Products12.0
03/22/16Propel Business Solutions IncConversion Innovations IncPrepackaged Software11.8
01/04/16WisdomTree Investments IncGreenHaven Commodity ServicesInvestment & Commodity Firms,Dealers,Exchanges11.8
03/04/16SP Jagged Peak LLCJagged Peak IncPrepackaged Software11.5
01/11/16Kimco Realty CorpOwings Mills MallReal Estate; Mortgage Bankers and Brokers11.5
01/13/16New Media Investment Group IncTimes Publishing Co-EriePrinting, Publishing, and Allied Services11.5
02/01/16CLARCOR IncTDC Filter Mnfg Inc-AstsMachinery11.0
03/03/16Patrick Industries IncThe Progressive Group IncWholesale Trade-Durable Goods11.0
01/13/16Ultralife CorpAccutronics LtdElectronic and Electrical Equipment10.9
02/02/16Carter Validus MissionWaco Data CenterBusiness Services10.7
01/27/16Lippert Components IncHighwater Marine-FurnitureTransportation Equipment10.0
01/13/16MiMedX Group IncStability IncMeasuring, Medical, Photo Equipment; Clocks10.0
Source: Thomson Reuters