Quantbot Technologies LP Acquires New Holdings in Summit Midstream Corporation (NYSE:SMC)

Quantbot Technologies LP bought a new position in shares of Summit Midstream Corporation (NYSE:SMC) in the 4th quarter, HoldingsChannel reports. The fund bought 6,055 shares of the company’s stock, valued at approximately $229,000.

A number of other institutional investors have also made changes to their positions in SMC. SG Americas Securities LLC purchased a new position in shares of Summit Midstream during the 4th quarter worth approximately $159,000. Barclays PLC purchased a new position in shares of Summit Midstream during the third quarter worth $194,000. Jane Street Group LLC acquired a new stake in shares of Summit Midstream in the third quarter valued at $227,000. AlphaQuest LLC purchased a new stake in shares of Summit Midstream in the 4th quarter valued at $363,000. Finally, Empowered Funds LLC acquired a new position in Summit Midstream during the 4th quarter worth about $2,132,000. 42.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Summit Midstream

In other news, CEO J Heath Deneke sold 1,000 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $36.52, for a total value of $36,520.00. Following the sale, the chief executive officer now directly owns 258,006 shares in the company, valued at approximately $9,422,379.12. This trade represents a 0.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 36,052 shares of company stock valued at $1,444,816 in the last 90 days. Company insiders own 5.30% of the company’s stock.

Summit Midstream Stock Performance

Shares of Summit Midstream stock opened at $34.25 on Friday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a market capitalization of $638.50 million, a price-to-earnings ratio of -2.67 and a beta of 2.28. The business has a 50-day moving average of $40.86 and a 200 day moving average of $37.84. Summit Midstream Corporation has a 12 month low of $31.81 and a 12 month high of $45.89.

Summit Midstream (NYSE:SMC) last posted its quarterly earnings data on Friday, March 21st. The company reported ($2.40) EPS for the quarter. Summit Midstream had a negative net margin of 23.01% and a positive return on equity of 0.71%. During the same quarter in the previous year, the business posted ($2.12) earnings per share.

Summit Midstream Profile

Summit Midstream Corporation focuses on owning, developing, and operating midstream energy infrastructure assets primarily shale formations in the continental United States. It operates natural gas, crude oil, and produced water gathering systems in four unconventional resource basins, including the Williston Basin in North Dakota, which includes the Bakken and Three Forks shale formations; the Denver-Julesburg Basin that consists of the Niobrara and Codell shale formations in Colorado and Wyoming; the Fort Worth Basin in Texas, which comprises the Barnett Shale formation; and the Piceance Basin in Colorado, which includes the Mesaverde formation, as well as the emerging Mancos and Niobrara Shale formations.