Bridgeway Capital Management LLC Buys New Shares in Summit Midstream Corporation (NYSE:SMC)

Bridgeway Capital Management LLC purchased a new position in shares of Summit Midstream Corporation (NYSE:SMC) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 61,440 shares of the company’s stock, valued at approximately $2,321,000.

Several other hedge funds have also recently made changes to their positions in SMC. BNP Paribas Financial Markets acquired a new stake in Summit Midstream during the fourth quarter worth approximately $57,000. Tower Research Capital LLC TRC grew its position in shares of Summit Midstream by 1,106.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,112 shares of the company’s stock worth $118,000 after buying an additional 2,854 shares during the period. SG Americas Securities LLC bought a new stake in shares of Summit Midstream in the 4th quarter valued at $159,000. EntryPoint Capital LLC acquired a new position in shares of Summit Midstream during the 4th quarter valued at $207,000. Finally, Barclays PLC bought a new position in Summit Midstream during the third quarter worth $194,000. 42.97% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO J Heath Deneke sold 1,000 shares of Summit Midstream stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $43.80, for a total value of $43,800.00. Following the completion of the sale, the chief executive officer now owns 252,326 shares of the company’s stock, valued at approximately $11,051,878.80. 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. Insiders sold a total of 20,052 shares of company stock worth $807,596 over the last quarter. 37.80% of the stock is currently owned by corporate insiders.

Summit Midstream Trading Up 0.2 %

NYSE:SMC opened at $28.34 on Friday. The firm has a fifty day simple moving average of $31.91 and a two-hundred day simple moving average of $36.28. Summit Midstream Corporation has a 12 month low of $25.00 and a 12 month high of $45.89. The stock has a market capitalization of $528.40 million, a price-to-earnings ratio of -2.21 and a beta of 1.17. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.20.

Summit Midstream (NYSE:SMC) last issued its earnings results 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 period last year, the company earned ($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.