57,777 Shares in Summit Midstream Corporation (NYSE:SMC) Acquired by Rangeley Capital LLC

Rangeley Capital LLC bought a new position in shares of Summit Midstream Corporation (NYSE:SMC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 57,777 shares of the company's stock, valued at approximately $2,183,000. Summit Midstream makes up about 2.0% of Rangeley Capital LLC's investment portfolio, making the stock its 16th biggest position. Rangeley Capital LLC owned 0.54% of Summit Midstream at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in shares of Summit Midstream in the 4th quarter valued at about $159,000. EntryPoint Capital LLC purchased a new position in Summit Midstream in the fourth quarter worth approximately $207,000. Barclays PLC acquired a new position in Summit Midstream during the 3rd quarter worth approximately $194,000. Quantbot Technologies LP acquired a new position in Summit Midstream during the 4th quarter worth approximately $229,000. Finally, Jane Street Group LLC purchased a new stake in shares of Summit Midstream in the 3rd quarter valued at approximately $227,000. Hedge funds and other institutional investors own 42.97% of the company's stock.

Summit Midstream Stock Down 7.9 %

Shares of SMC traded down $2.31 during midday trading on Monday, reaching $27.04. The stock had a trading volume of 518,113 shares, compared to its average volume of 81,519. 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 company's fifty day simple moving average is $39.92 and its two-hundred day simple moving average is $37.73. The company has a market cap of $504.09 million, a price-to-earnings ratio of -2.11 and a beta of 1.92. Summit Midstream Corporation has a 1-year low of $20.30 and a 1-year high of $45.89.

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Summit Midstream (NYSE:SMC - Get Free Report) last announced its quarterly earnings results on Friday, March 21st. The company reported ($2.40) earnings per share (EPS) for the quarter. Summit Midstream had a positive return on equity of 0.71% and a negative net margin of 23.01%. During the same period in the previous year, the company earned ($2.12) EPS.

Insider Buying and Selling

In related news, CEO J Heath Deneke sold 1,000 shares of the stock in a transaction on Friday, March 28th. The shares were sold at an average price of $34.67, for a total value of $34,670.00. Following the transaction, the chief executive officer now directly owns 266,170 shares of the company's stock, valued at $9,228,113.90. This trade represents a 0.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 33,052 shares of company stock worth $1,332,996 over the last 90 days. 5.30% of the stock is owned by insiders.

About Summit Midstream

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.