Insider Selling: Summit Midstream Corporation (NYSE:SMC) CEO Sells 1,000 Shares of Stock

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of Summit Midstream stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $35.74, for a total value of $35,740.00. Following the sale, the chief executive officer now directly owns 282,006 shares of the company’s stock, valued at approximately $10,078,894.44. This represents a 0.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

J Heath Deneke also recently made the following trade(s):

• On Wednesday, November 20th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $35.82, for a total value of $35,820.00.
• On Monday, November 18th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.54, for a total value of $35,540.00.
• On Friday, November 15th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.61, for a total value of $35,610.00.

Summit Midstream Price Performance

Shares of SMC stock opened at $37.35 on Monday. The company has a 50-day moving average of $35.54. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.20. Summit Midstream Corporation has a 52-week low of $15.56 and a 52-week high of $40.75.

Hedge Funds Weigh In On Summit Midstream

Several institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC acquired a new position in shares of Summit Midstream in the 3rd quarter valued at about $194,000. Geode Capital Management LLC purchased a new position in shares of Summit Midstream in the 3rd quarter valued at about $3,313,000. Jane Street Group LLC purchased a new position in shares of Summit Midstream in the 3rd quarter valued at about $227,000. Virtus Fund Advisers LLC purchased a new position in shares of Summit Midstream in the 3rd quarter valued at about $3,794,000. Finally, Pekin Hardy Strauss Inc. purchased a new position in shares of Summit Midstream in the 3rd quarter valued at about $1,311,000. Institutional investors and hedge funds own 42.97% of the company’s stock.

About Summit Midstream

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.