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 dated Monday, March 10th. The stock was sold at an average price of $38.52, for a total value of $38,520.00. Following the transaction, the chief executive officer now owns 235,326 shares of the company’s stock, valued at approximately $9,064,757.52. The trade was a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, March 7th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $39.23, for a total value of $39,230.00.
• On Wednesday, March 5th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $40.55, for a total transaction of $40,550.00.
• On Monday, March 3rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $43.50, for a total transaction of $43,500.00.
• On Friday, February 28th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $44.28, for a total transaction of $44,280.00.
• On Wednesday, February 26th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $41.96, for a total value of $41,960.00.
• On Monday, February 24th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $42.63, for a total value of $42,630.00.
• On Thursday, February 20th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $44.23, for a total value of $44,230.00.
• On Tuesday, February 18th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $44.98, for a total transaction of $44,980.00.
• On Friday, February 14th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $44.20, for a total transaction of $44,200.00.
• On Wednesday, February 12th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $43.80, for a total transaction of $43,800.00.

Summit Midstream Stock Performance

SMC stock traded down $0.99 during trading on Tuesday, hitting $37.72. 160,648 shares of the company traded hands, compared to its average volume of 73,053. The firm has a market capitalization of $401.71 million, a price-to-earnings ratio of -2.94 and a beta of 2.28. Summit Midstream Corporation has a 1 year low of $31.81 and a 1 year high of $45.89. 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 50-day moving average of $41.23.

Summit Midstream (NYSE:SMC) last posted its quarterly earnings results on Monday, March 10th. The company reported ($2.19) EPS for the quarter. The firm had revenue of $107.02 million for the quarter. Summit Midstream had a negative net margin of 23.01% and a positive return on equity of 0.71%.

Institutional Trading of Summit Midstream

A number of institutional investors have recently modified their holdings of SMC. Pekin Hardy Strauss Inc. bought a new position in Summit Midstream during the 3rd quarter valued at approximately $1,311,000. Virtus Fund Advisers LLC bought a new stake in shares of Summit Midstream in the 3rd quarter worth approximately $3,794,000. Jane Street Group LLC purchased a new position in shares of Summit Midstream during the third quarter valued at approximately $227,000. Barclays PLC bought a new position in shares of Summit Midstream during the third quarter valued at approximately $194,000. Finally, Geode Capital Management LLC purchased a new stake in Summit Midstream in the third quarter worth $3,313,000. 42.97% of the stock is currently owned by hedge funds and other institutional investors.

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.