American Century Companies Inc. Purchases New Position in Summit Midstream Corporation (NYSE:SMC)

American Century Companies Inc. bought a new position in shares of Summit Midstream Corporation (NYSE:SMC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,847 shares of the company's stock, valued at approximately $410,000. American Century Companies Inc. owned approximately 0.10% of Summit Midstream as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. SG Americas Securities LLC acquired a new stake in Summit Midstream during the fourth quarter worth about $159,000. Barclays PLC purchased a new position in shares of Summit Midstream during the 3rd quarter worth $194,000. Jane Street Group LLC purchased a new stake in Summit Midstream in the 3rd quarter valued at about $227,000. Quantbot Technologies LP acquired a new position in Summit Midstream in the fourth quarter valued at about $229,000. Finally, AlphaQuest LLC acquired a new stake in shares of Summit Midstream during the fourth quarter valued at about $363,000. 42.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Summit Midstream news, CEO J Heath Deneke sold 1,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 249,326 shares in the company, valued at $11,214,683.48. The trade was a 0.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 29,052 shares of company stock valued at $1,182,286 in the last three months. 5.30% of the stock is owned by corporate insiders.

Summit Midstream Trading Up 3.7 %

Shares of SMC stock traded up $1.04 during trading hours on Thursday, hitting $28.89. The company had a trading volume of 11,839 shares, compared to its average volume of 85,326. The stock has a market capitalization of $538.56 million, a PE ratio of -2.25 and a beta of 1.92. 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 fifty-two week low of $25.72 and a fifty-two week high of $45.89. The company's fifty day moving average is $37.07 and its 200 day moving average is $37.15.

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

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.