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 stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $42.63, for a total transaction of $42,630.00. Following the completion of the transaction, the chief executive officer now directly owns 245,326 shares of the company’s stock, valued at $10,458,247.38. This trade represents a 0.41 % decrease in their position. The transaction 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 Wednesday, February 26th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $41.96, for a total transaction of $41,960.00.
• 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 transaction 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 stock was 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.
• On Monday, February 10th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $43.43, for a total transaction of $43,430.00.
• On Friday, February 7th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $42.67, for a total transaction of $42,670.00.
• On Wednesday, February 5th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $42.78, for a total transaction of $42,780.00.
• On Monday, February 3rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $41.04, for a total transaction of $41,040.00.
• On Friday, January 31st, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $41.49, for a total transaction of $41,490.00.

Summit Midstream Trading Up 6.7 %

NYSE SMC opened at $45.00 on Friday. The firm has a market capitalization of $479.21 million, a price-to-earnings ratio of -3.51 and a beta of 2.37. The business’s 50 day moving average price is $40.69. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.20. Summit Midstream Corporation has a 1-year low of $17.26 and a 1-year high of $45.89.

Institutional Trading of Summit Midstream

Several hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new stake in shares of Summit Midstream during the fourth quarter worth approximately $57,000. Tower Research Capital LLC TRC grew its stake in shares of Summit Midstream by 1,106.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,112 shares of the company’s stock valued at $118,000 after purchasing an additional 2,854 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of Summit Midstream by 18.9% during the fourth quarter. Cetera Investment Advisers now owns 21,856 shares of the company’s stock valued at $826,000 after purchasing an additional 3,472 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Summit Midstream by 56.8% during the fourth quarter. Jane Street Group LLC now owns 10,163 shares of the company’s stock valued at $384,000 after purchasing an additional 3,680 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Summit Midstream during the fourth quarter valued at approximately $159,000. Institutional investors and hedge funds own 42.97% of the company’s stock.

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.