Schonfeld Strategic Advisors LLC Buys New Position in Summit Midstream Corporation (NYSE:SMC)

Schonfeld Strategic Advisors LLC acquired a new stake in Summit Midstream Corporation (NYSE:SMC - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 12,556 shares of the company's stock, valued at approximately $474,000. Schonfeld Strategic Advisors LLC owned 0.12% of Summit Midstream as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tower Research Capital LLC TRC raised its position in shares of Summit Midstream by 1,106.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,112 shares of the company's stock worth $118,000 after acquiring an additional 2,854 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Summit Midstream during the 4th quarter worth about $159,000. EntryPoint Capital LLC acquired a new stake in shares of Summit Midstream during the 4th quarter worth about $207,000. Barclays PLC acquired a new stake in shares of Summit Midstream during the 3rd quarter worth about $194,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Summit Midstream during the 4th quarter worth about $229,000. Hedge funds and other institutional investors own 42.97% of the company's stock.

Summit Midstream Stock Down 1.3%

Shares of NYSE SMC traded down $0.40 during midday trading on Friday, hitting $29.07. 18,814 shares of the company's stock were exchanged, compared to its average volume of 82,570. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.33 and a quick ratio of 1.33. Summit Midstream Corporation has a twelve month low of $25.00 and a twelve month high of $45.89. The company has a market cap of $541.92 million, a PE ratio of -2.27 and a beta of 1.17. The firm's fifty day simple moving average is $31.10 and its 200-day simple moving average is $36.12.

Summit Midstream (NYSE:SMC - Get Free Report) last issued its quarterly earnings data on Friday, March 21st. The company reported ($2.40) 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%. During the same period in the previous year, the firm posted ($2.12) earnings per share.

Insiders Place Their Bets

In other Summit Midstream news, CEO J Heath Deneke sold 1,000 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $44.23, for a total value of $44,230.00. Following the sale, the chief executive officer now owns 247,326 shares of the company's stock, valued at approximately $10,939,228.98. This represents a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 17,052 shares of company stock worth $676,166. 5.30% of the stock is owned by corporate insiders.

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.