28,567 Shares in Summit Midstream Corporation (NYSE:SMC) Purchased by Ancora Advisors LLC

Ancora Advisors LLC purchased a new stake in Summit Midstream Corporation (NYSE:SMC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 28,567 shares of the company's stock, valued at approximately $1,079,000. Ancora Advisors LLC owned 0.27% of Summit Midstream at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Jane Street Group LLC acquired a new position in shares of Summit Midstream in the 3rd quarter valued at $227,000. Barclays PLC purchased a new stake in Summit Midstream during the third quarter valued at about $194,000. Geode Capital Management LLC acquired a new stake in Summit Midstream during the third quarter worth about $3,313,000. SG Americas Securities LLC purchased a new position in shares of Summit Midstream in the 4th quarter worth about $159,000. Finally, Graham Capital Wealth Management LLC acquired a new position in shares of Summit Midstream in the 4th quarter valued at about $3,061,000. Institutional investors and hedge funds own 42.97% of the company's stock.

Insider Transactions at Summit Midstream

In related news, CEO J Heath Deneke sold 1,000 shares of Summit Midstream stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $44.98, for a total transaction of $44,980.00. Following the sale, the chief executive officer now owns 249,326 shares of the company's stock, valued at $11,214,683.48. The trade was a 0.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 22,052 shares of company stock valued at $893,046. Corporate insiders own 37.80% of the company's stock.

Summit Midstream Stock Down 2.8 %

SMC opened at $27.31 on Tuesday. The company has a market cap of $509.14 million, a PE ratio of -2.13 and a beta of 1.17. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.33 and a current ratio of 1.33. Summit Midstream Corporation has a 1 year low of $25.72 and a 1 year high of $45.89. The firm has a 50 day moving average price of $33.12 and a 200 day moving average price of $36.51.

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 negative net margin of 23.01% and a positive return on equity of 0.71%. During the same period last 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.

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.