Renaissance Technologies LLC Invests $591,000 in Summit Midstream Corporation (NYSE:SMC)

Renaissance Technologies LLC bought a new stake in Summit Midstream Corporation (NYSE:SMC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 15,644 shares of the company's stock, valued at approximately $591,000. Renaissance Technologies LLC owned 0.15% of Summit Midstream at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SMC. Rangeley Capital LLC acquired a new position in shares of Summit Midstream during the fourth quarter valued at $2,183,000. Barclays PLC bought a new position in Summit Midstream in the 3rd quarter valued at about $194,000. Arrowstreet Capital Limited Partnership acquired a new position in Summit Midstream during the 4th quarter valued at about $3,829,000. American Century Companies Inc. bought a new stake in shares of Summit Midstream during the 4th quarter worth about $410,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Summit Midstream in the 4th quarter worth approximately $357,000. Institutional investors own 42.97% of the company's stock.

Insider Activity

In related news, CEO J Heath Deneke sold 1,000 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $43.43, for a total value of $43,430.00. Following the completion of the transaction, the chief executive officer now owns 254,326 shares in the company, valued at $11,045,378.18. This trade represents a 0.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 21,052 shares of company stock worth $850,266. Corporate insiders own 37.80% of the company's stock.

Summit Midstream Price Performance

Shares of Summit Midstream stock traded up $0.91 on Thursday, hitting $28.52. The company had a trading volume of 9,777 shares, compared to its average volume of 100,192. The company has a market cap of $531.76 million, a PE ratio of -2.23 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 Corporation has a 52 week low of $25.00 and a 52 week high of $45.89. The business has a 50-day simple moving average of $32.46 and a 200-day simple moving average of $36.38.

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 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 posted ($2.12) earnings per share.

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.