Arrowstreet Capital Limited Partnership Invests $3.83 Million in Summit Midstream Corporation (NYSE:SMC)

Arrowstreet Capital Limited Partnership bought a new position in shares of Summit Midstream Corporation (NYSE:SMC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 101,348 shares of the company's stock, valued at approximately $3,829,000. Arrowstreet Capital Limited Partnership owned 0.95% of Summit Midstream as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Jane Street Group LLC bought a new position in Summit Midstream in the third quarter worth $227,000. Barclays PLC purchased a new position in Summit Midstream during the 3rd quarter valued at about $194,000. Geode Capital Management LLC bought a new stake in Summit Midstream during the third quarter worth about $3,313,000. SG Americas Securities LLC bought a new stake in Summit Midstream during the fourth quarter worth about $159,000. Finally, Graham Capital Wealth Management LLC purchased a new stake in Summit Midstream in the fourth quarter worth about $3,061,000. Institutional investors own 42.97% of the company's stock.

Insider Activity at Summit Midstream

In related news, CEO J Heath Deneke sold 1,000 shares of the company's stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $40.11, for a total value of $40,110.00. Following the transaction, the chief executive officer now directly owns 246,006 shares of the company's stock, valued at approximately $9,867,300.66. This represents a 0.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 30,052 shares of company stock valued at $1,220,266. 5.30% of the stock is owned by insiders.

Summit Midstream Stock Up 1.1 %

Shares of SMC traded up $0.29 during mid-day trading on Monday, reaching $26.70. The company had a trading volume of 2,534 shares, compared to its average volume of 107,372. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market capitalization of $497.88 million, a price-to-earnings ratio of -2.08 and a beta of 1.92. The firm has a 50-day moving average price of $38.01 and a 200 day moving average price of $37.33. Summit Midstream Corporation has a 52 week low of $25.72 and a 52 week high of $45.89.

Summit Midstream (NYSE:SMC - Get Free Report) last released its earnings results on Friday, March 21st. The company reported ($2.40) 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 prior year, the company earned ($2.12) earnings per share.

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.