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 business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $37.49, for a total transaction of $37,490.00. Following the completion of the sale, the chief executive officer now directly owns 256,006 shares in the company, valued at approximately $9,597,664.94. This trade represents a 0.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, December 30th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $36.52, for a total value of $36,520.00.
• On Thursday, December 26th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $36.19, for a total transaction of $36,190.00.
• On Monday, December 23rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $34.94, for a total value of $34,940.00.
• On Friday, December 20th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $34.97, for a total transaction of $34,970.00.
• On Wednesday, December 18th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.18, for a total value of $35,180.00.
• On Monday, December 16th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $35.18, for a total transaction of $35,180.00.
• On Friday, December 13th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $35.95, for a total transaction of $35,950.00.
• On Wednesday, December 11th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.09, for a total value of $37,090.00.
• On Monday, December 9th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.22, for a total transaction of $37,220.00.
• On Friday, December 6th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.78, for a total transaction of $37,780.00.

Summit Midstream Price Performance

SMC traded up $0.03 on Thursday, hitting $37.81. The company had a trading volume of 46,724 shares, compared to its average volume of 53,557. The business has a fifty day simple moving average of $36.09. 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 firm has a market cap of $402.64 million, a price-to-earnings ratio of -2.95 and a beta of 2.39. Summit Midstream Corporation has a 52-week low of $15.56 and a 52-week high of $40.75.

Institutional Investors Weigh In On Summit Midstream

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

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.