Insider Selling: Summit Midstream Corporation (NYSE:SMC) CEO Sells 1,000 Shares of Stock

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $35.82, for a total value of $35,820.00. Following the transaction, the chief executive officer now directly owns 284,006 shares of the company’s stock, valued at $10,173,094.92. This represents a 0.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

J Heath Deneke also recently made the following trade(s):

• On Friday, November 22nd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.74, for a total transaction of $35,740.00.
• On Monday, November 18th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.54, for a total transaction of $35,540.00.
• On Friday, November 15th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.61, for a total transaction of $35,610.00.

Summit Midstream Stock Performance

Summit Midstream stock opened at $37.35 on Friday. Summit Midstream Corporation has a 1 year low of $15.56 and a 1 year high of $40.75. The business has a 50 day simple moving average of $35.54. The firm has a market capitalization of $397.78 million, a price-to-earnings ratio of -2.92 and a beta of 2.35. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.33 and a current ratio of 1.33.

Hedge Funds Weigh In On Summit Midstream

A number of hedge funds have recently modified their holdings of the stock. Barclays PLC purchased a new stake in shares of Summit Midstream during the third quarter valued at $194,000. Jane Street Group LLC acquired a new stake in Summit Midstream during the 3rd quarter worth about $227,000. Valeo Financial Advisors LLC purchased a new stake in Summit Midstream during the third quarter valued at about $529,000. Pekin Hardy Strauss Inc. acquired a new position in shares of Summit Midstream in the third quarter worth about $1,311,000. Finally, Fractal Investments LLC purchased a new position in shares of Summit Midstream in the third quarter worth approximately $1,576,000. 42.97% of the stock is currently owned by institutional investors and hedge funds.

About Summit Midstream

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.