61,440 Shares in Summit Midstream Corporation (NYSE:SMC) Acquired by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC purchased a new stake in shares of Summit Midstream Corporation (NYSE:SMC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 61,440 shares of the company's stock, valued at approximately $2,321,000. Bridgeway Capital Management LLC owned 0.58% of Summit Midstream at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Arrowstreet Capital Limited Partnership purchased a new position in shares of Summit Midstream in the 4th quarter worth about $3,829,000. Graham Capital Wealth Management LLC purchased a new stake in shares of Summit Midstream during the fourth quarter valued at approximately $3,061,000. Rangeley Capital LLC purchased a new stake in shares of Summit Midstream during the fourth quarter valued at approximately $2,183,000. Empowered Funds LLC purchased a new position in Summit Midstream in the 4th quarter worth approximately $2,132,000. Finally, Ancora Advisors LLC bought a new position in Summit Midstream in the 4th quarter valued at approximately $1,079,000. 42.97% of the stock is currently owned by hedge funds and other institutional investors.

Summit Midstream Stock Up 2.5%

Shares of Summit Midstream stock traded up $0.70 on Monday, reaching $29.04. The company's stock had a trading volume of 54,674 shares, compared to its average volume of 83,469. Summit Midstream Corporation has a 52 week low of $25.00 and a 52 week high of $45.89. The firm's fifty day simple moving average is $31.68 and its two-hundred day simple moving average is $36.25. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $541.45 million, a price-to-earnings ratio of -2.27 and a beta of 1.17.

Summit Midstream (NYSE:SMC - Get Free Report) last released its quarterly earnings data 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.

Insider Transactions at Summit Midstream

In related news, CEO J Heath Deneke sold 1,000 shares of the firm's stock in a transaction on Friday, March 28th. The stock was 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 approximately $9,228,113.90. This trade represents a 0.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 19,052 shares of company stock worth $764,166 in the last ninety days. Insiders own 37.80% of the company's stock.

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.