Cubist Systematic Strategies LLC Buys Shares of 9,361 Summit Midstream Corporation (NYSE:SMC)

Cubist Systematic Strategies LLC acquired a new position in Summit Midstream Corporation (NYSE:SMC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 9,361 shares of the company's stock, valued at approximately $354,000. Cubist Systematic Strategies LLC owned 0.09% of Summit Midstream as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Rangeley Capital LLC acquired a new stake in shares of Summit Midstream in the 4th quarter worth about $2,183,000. Barclays PLC bought a new stake in shares of Summit Midstream during the 3rd quarter worth about $194,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Summit Midstream during the 4th quarter worth about $3,829,000. JPMorgan Chase & Co. bought a new stake in shares of Summit Midstream during the 4th quarter worth about $357,000. Finally, American Century Companies Inc. bought a new stake in shares of Summit Midstream during the 4th quarter worth about $410,000. Institutional investors and hedge funds own 42.97% of the company's stock.

Summit Midstream Price Performance

Shares of SMC stock traded down $0.51 during midday trading on Thursday, reaching $26.19. 2,524 shares of the company were exchanged, compared to its average volume of 82,088. Summit Midstream Corporation has a 12 month low of $25.00 and a 12 month high of $45.89. The company has a market cap of $488.22 million, a P/E ratio of -2.04 and a beta of 1.17. The company's 50 day moving average price is $30.32 and its two-hundred day moving average price is $35.93. 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 released its quarterly earnings results 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 quarter in the prior year, the company earned ($2.12) EPS.

Insider Buying and Selling

In related news, CEO J Heath Deneke sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $41.96, for a total transaction of $41,960.00. Following the completion of the sale, the chief executive officer now directly owns 243,326 shares in the company, valued at approximately $10,209,958.96. This trade represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 15,052 shares of company stock worth $586,956. 37.80% of the stock is 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.