Insider Selling: Summit Midstream Corporation (NYSE:SMC) CEO Sells $44,230.00 in Stock

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $44.23, for a total transaction of $44,230.00. Following the transaction, the chief executive officer now owns 247,326 shares in the company, valued at approximately $10,939,228.98. The trade was a 0.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were sold at an average price of $41.49, for a total transaction of $41,490.00.
• On Wednesday, January 29th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $40.88, for a total transaction of $40,880.00.
• On Monday, January 27th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $40.80, for a total transaction of $40,800.00.

Summit Midstream Stock Down 3.7 %

Shares of Summit Midstream stock opened at $43.47 on Monday. The stock has a market cap of $462.90 million, a price-to-earnings ratio of -3.39 and a beta of 2.37. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.20. The firm has a 50 day moving average of $39.91. Summit Midstream Corporation has a 52 week low of $17.11 and a 52 week high of $45.89.

Hedge Funds Weigh In On Summit Midstream

Several hedge funds and other institutional investors have recently modified their holdings of SMC. Fractal Investments LLC purchased a new position in shares of Summit Midstream in the 3rd quarter valued at approximately $1,576,000. Pekin Hardy Strauss Inc. purchased a new position in shares of Summit Midstream in the 3rd quarter valued at approximately $1,311,000. Virtus Fund Advisers LLC purchased a new position in shares of Summit Midstream in the 3rd quarter valued at approximately $3,794,000. Jane Street Group LLC purchased a new position in shares of Summit Midstream in the 3rd quarter valued at approximately $227,000. Finally, Barclays PLC purchased a new position in shares of Summit Midstream in the 3rd quarter valued at approximately $194,000. 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.