15,644 Shares in Summit Midstream Corporation (NYSE:SMC) Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC purchased a new stake in shares of Summit Midstream Corporation (NYSE:SMC - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 15,644 shares of the company's stock, valued at approximately $591,000. Renaissance Technologies LLC owned about 0.15% of Summit Midstream at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Rangeley Capital LLC bought a new position in Summit Midstream during the 4th quarter worth approximately $2,183,000. Barclays PLC purchased a new stake in shares of Summit Midstream during the third quarter valued at approximately $194,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Summit Midstream in the fourth quarter worth approximately $3,829,000. American Century Companies Inc. purchased a new position in shares of Summit Midstream in the fourth quarter worth $410,000. Finally, AlphaQuest LLC bought a new stake in Summit Midstream during the 4th quarter valued at $363,000. 42.97% of the stock is owned by hedge funds and other institutional investors.

Summit Midstream Trading Up 3.6 %

Summit Midstream stock traded up $0.96 during trading hours on Wednesday, reaching $27.60. The stock had a trading volume of 40,453 shares, compared to its average volume of 83,717. The company has a fifty day simple moving average of $32.81 and a 200-day simple moving average of $36.44. Summit Midstream Corporation has a 52 week low of $25.72 and a 52 week high of $45.89. The stock has a market cap of $514.60 million, a PE ratio of -2.15 and a beta of 1.17. 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 (NYSE:SMC - Get Free Report) last posted its earnings results 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 period in the prior year, the firm earned ($2.12) earnings per share.

Insider Activity

In other Summit Midstream 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 transaction of $44,980.00. Following the transaction, the chief executive officer now directly owns 249,326 shares of the company's stock, 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 can be accessed through the SEC website. Over the last three months, insiders have sold 21,052 shares of company stock valued at $850,266. Company 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.