12,556 Shares in Summit Midstream Corporation (NYSE:SMC) Acquired by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC acquired a new stake in Summit Midstream Corporation (NYSE:SMC) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 12,556 shares of the company’s stock, valued at approximately $474,000. Schonfeld Strategic Advisors LLC owned about 0.12% of Summit Midstream as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership bought a new stake in Summit Midstream during the 4th quarter valued at $3,829,000. Graham Capital Wealth Management LLC bought a new position in shares of Summit Midstream during the fourth quarter valued at about $3,061,000. Rangeley Capital LLC purchased a new stake in shares of Summit Midstream during the fourth quarter worth about $2,183,000. Empowered Funds LLC bought a new stake in shares of Summit Midstream in the fourth quarter worth about $2,132,000. Finally, Renaissance Technologies LLC purchased a new position in Summit Midstream during the 4th quarter valued at about $591,000. Hedge funds and other institutional investors own 42.97% of the company’s stock.

Summit Midstream Trading Up 0.2 %

SMC opened at $28.34 on Friday. The firm has a market capitalization of $528.40 million, a price-to-earnings ratio of -2.21 and a beta of 1.17. Summit Midstream Corporation has a one year low of $25.00 and a one year high of $45.89. The business has a 50 day simple moving average of $31.91 and a two-hundred day simple moving average of $36.28. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.33 and a quick ratio of 1.33.

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

Insider Activity

In other news, CEO J Heath Deneke sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $43.43, for a total value of $43,430.00. Following the completion of the transaction, the chief executive officer now owns 254,326 shares in the company, valued at $11,045,378.18. This trade represents a 0.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 20,052 shares of company stock valued at $807,596. Corporate insiders own 37.80% of the company’s stock.

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.