Insider Selling: Summit Midstream Corporation (NYSE:SMC) CEO Sells 1,000 Shares of Stock

Summit Midstream Corporation (NYSE:SMC - Get Free Report) CEO J Heath Deneke sold 1,000 shares of the business's stock in a transaction on Friday, January 17th. The shares were sold at an average price of $40.11, for a total transaction of $40,110.00. Following the completion of the sale, the chief executive officer now directly owns 246,006 shares in the company, valued at $9,867,300.66. This trade represents a 0.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, January 21st, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $42.06, for a total transaction of $42,060.00.
• On Wednesday, January 15th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.98, for a total transaction of $37,980.00.
• On Monday, January 13th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.63, for a total value of $37,630.00.
• On Friday, January 10th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.60, for a total value of $37,600.00.
• On Wednesday, January 8th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.50, for a total value of $37,500.00.
• On Monday, January 6th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.81, for a total value of $37,810.00.
• On Thursday, January 2nd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.49, for a total transaction of $37,490.00.
• On Monday, December 30th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $36.52, for a total transaction of $36,520.00.
• On Thursday, December 26th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $36.19, for a total transaction of $36,190.00.
• On Monday, December 23rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $34.94, for a total value of $34,940.00.

Summit Midstream Stock Up 2.4 %

SMC stock traded up $1.01 during midday trading on Wednesday, reaching $43.04. 120,293 shares of the company's stock traded hands, compared to its average volume of 90,746. The business has a 50-day moving average of $37.07. 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 1-year low of $15.56 and a 1-year high of $43.99. The stock has a market cap of $458.38 million, a P/E ratio of -3.36 and a beta of 2.37.

Summit Midstream (NYSE:SMC - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported ($15.28) EPS for the quarter. Summit Midstream had a positive return on equity of 0.71% and a negative net margin of 23.01%. The business had revenue of $102.42 million for the quarter.

Hedge Funds Weigh In On Summit Midstream

A number of institutional investors have recently modified their holdings of SMC. Valeo Financial Advisors LLC bought a new stake in shares of Summit Midstream during the third quarter valued at approximately $529,000. Fractal Investments LLC bought a new position in Summit Midstream in the 3rd quarter valued at $1,576,000. Pekin Hardy Strauss Inc. acquired a new stake in shares of Summit Midstream in the 3rd quarter valued at $1,311,000. Virtus Fund Advisers LLC bought a new stake in shares of Summit Midstream during the third quarter worth $3,794,000. Finally, Jane Street Group LLC bought a new position in Summit Midstream in the third quarter valued at about $227,000. 42.97% of the stock is owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.