Bridgeway Capital Management LLC Makes New $2.32 Million Investment in Summit Midstream Corporation (NYSE:SMC)

Bridgeway Capital Management LLC bought a new position in Summit Midstream Corporation (NYSE:SMC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 61,440 shares of the company's stock, valued at approximately $2,321,000. Bridgeway Capital Management LLC owned about 0.58% of Summit Midstream as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets acquired a new position in shares of Summit Midstream during the fourth quarter valued at approximately $57,000. Tower Research Capital LLC TRC raised its holdings in shares of Summit Midstream by 1,106.2% during the fourth 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. Jane Street Group LLC raised its holdings in shares of Summit Midstream by 56.8% during the 4th quarter. Jane Street Group LLC now owns 10,163 shares of the company's stock valued at $384,000 after purchasing an additional 3,680 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Summit Midstream in the fourth quarter valued at approximately $159,000. Finally, EntryPoint Capital LLC acquired a new position in Summit Midstream in the 4th quarter valued at $207,000. Institutional investors and hedge funds own 42.97% of the company's stock.

Summit Midstream Stock Performance

Shares of NYSE:SMC traded down $0.49 during midday trading on Thursday, hitting $28.86. The company's stock had a trading volume of 17,474 shares, compared to its average volume of 82,738. The stock's 50 day simple moving average is $31.28 and its 200 day simple moving average is $36.16. Summit Midstream Corporation has a fifty-two week low of $25.00 and a fifty-two week high of $45.89. The stock has a market capitalization of $538.09 million, a price-to-earnings ratio of -2.25 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 (NYSE:SMC - Get Free Report) last announced its quarterly earnings data on Friday, March 21st. The company reported ($2.40) earnings per share (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 quarter last year, the company posted ($2.12) earnings per share.

Insider Buying and Selling at Summit Midstream

In other news, CEO J Heath Deneke sold 1,000 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $44.98, for a total value of $44,980.00. Following the sale, the chief executive officer now owns 249,326 shares in the company, valued at approximately $11,214,683.48. The trade was a 0.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 18,052 shares of company stock valued at $720,366 in the last 90 days. 5.30% of the stock is currently owned by company 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.