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 that occurred on Wednesday, November 27th. The stock was sold at an average price of $36.85, for a total transaction of $36,850.00. Following the transaction, the chief executive officer now directly owns 279,006 shares in the company, valued at approximately $10,281,371.10. This trade represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Monday, November 25th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.16, for a total transaction of $37,160.00.
• On Friday, November 22nd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $35.74, for a total transaction of $35,740.00.
• On Wednesday, November 20th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $35.82, for a total transaction of $35,820.00.
• On Monday, November 18th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was 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 stock was sold at an average price of $35.61, for a total transaction of $35,610.00.

Summit Midstream Stock Performance

Shares of NYSE:SMC opened at $37.46 on Thursday. The stock has a market capitalization of $398.91 million, a price-to-earnings ratio of -2.92 and a beta of 2.35. The stock’s 50 day moving average is $35.59. 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 one year low of $15.56 and a one year high of $40.75.

Hedge Funds Weigh In On Summit Midstream

Several institutional investors have recently bought and sold shares of SMC. Valeo Financial Advisors LLC purchased a new position in Summit Midstream during the third quarter valued at approximately $529,000. Fractal Investments LLC purchased a new position in Summit Midstream during the third quarter valued at approximately $1,576,000. Pekin Hardy Strauss Inc. purchased a new position in Summit Midstream during the third quarter valued at approximately $1,311,000. Virtus Fund Advisers LLC purchased a new position in Summit Midstream during the third quarter valued at approximately $3,794,000. Finally, Jane Street Group LLC purchased a new position in Summit Midstream during the third quarter valued at approximately $227,000. 42.97% of the stock is 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.