AlphaQuest LLC Invests $363,000 in Summit Midstream Corporation (NYSE:SMC)

AlphaQuest LLC bought a new stake in Summit Midstream Corporation (NYSE:SMC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,613 shares of the company’s stock, valued at approximately $363,000.

Several other hedge funds have also recently made changes to their positions in SMC. Virtus Fund Advisers LLC acquired a new stake in Summit Midstream during the 3rd quarter worth about $3,794,000. Geode Capital Management LLC purchased a new position in shares of Summit Midstream in the third quarter worth about $3,313,000. Graham Capital Wealth Management LLC acquired a new stake in shares of Summit Midstream during the fourth quarter worth about $3,061,000. Empowered Funds LLC purchased a new stake in Summit Midstream in the fourth quarter valued at approximately $2,132,000. Finally, Pekin Hardy Strauss Inc. acquired a new stake in Summit Midstream during the 3rd quarter valued at approximately $1,311,000. 42.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Summit Midstream

In other Summit Midstream news, CEO J Heath Deneke sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $35.18, for a total transaction of $35,180.00. Following the completion of the sale, the chief executive officer now directly owns 265,006 shares in the company, valued at approximately $9,322,911.08. The trade was a 0.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 33,000 shares of company stock valued at $1,324,990. 5.30% of the stock is owned by company insiders.

Summit Midstream Stock Performance

NYSE:SMC opened at $36.81 on Friday. The firm has a fifty day simple moving average of $41.20. The stock has a market capitalization of $391.99 million, a price-to-earnings ratio of -2.87 and a beta of 2.28. Summit Midstream Corporation has a one year low of $31.81 and a one year high of $45.89. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.33 and a current ratio of 1.33.

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

Summit Midstream 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.