Cubist Systematic Strategies LLC Purchases Shares of 9,361 Summit Midstream Corporation (NYSE:SMC)

Cubist Systematic Strategies LLC purchased a new stake in Summit Midstream Corporation (NYSE:SMC) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 9,361 shares of the company’s stock, valued at approximately $354,000.

A number of other institutional investors have also recently made changes to their positions in SMC. Barclays PLC bought a new stake in shares of Summit Midstream in the 3rd quarter valued at about $194,000. SG Americas Securities LLC bought a new stake in shares of Summit Midstream in the 4th quarter valued at about $159,000. Graham Capital Wealth Management LLC bought a new stake in shares of Summit Midstream in the 4th quarter valued at about $3,061,000. Empowered Funds LLC bought a new stake in shares of Summit Midstream in the 4th quarter valued at about $2,132,000. Finally, AlphaQuest LLC bought a new stake in shares of Summit Midstream in the 4th quarter valued at about $363,000. Institutional investors own 42.97% of the company’s stock.

Insider Activity at Summit Midstream

In related news, CEO J Heath Deneke sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $44.98, for a total transaction of $44,980.00. Following the transaction, the chief executive officer now directly owns 249,326 shares of the company’s stock, valued at approximately $11,214,683.48. This represents a 0.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 17,052 shares of company stock worth $676,166 in the last 90 days. Corporate insiders own 5.30% of the company’s stock.

Summit Midstream Trading Down 2.1%

NYSE SMC opened at $28.85 on Friday. Summit Midstream Corporation has a 12 month low of $25.00 and a 12 month high of $45.89. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.20. The business’s 50-day moving average price is $30.92 and its two-hundred day moving average price is $36.08. The firm has a market capitalization of $537.85 million, a PE ratio of -2.25 and a beta of 1.17.

Summit Midstream (NYSE:SMC) last announced its earnings results 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 period in the prior year, the business posted ($2.12) EPS.

Summit Midstream Company 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.