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) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 15,644 shares of the company’s stock, valued at approximately $591,000. Renaissance Technologies LLC owned approximately 0.15% of Summit Midstream at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SMC. SG Americas Securities LLC bought a new position in shares of Summit Midstream in the fourth quarter valued at $159,000. EntryPoint Capital LLC acquired a new position in Summit Midstream in the 4th quarter valued at about $207,000. Barclays PLC bought a new position in Summit Midstream in the 3rd quarter valued at about $194,000. Quantbot Technologies LP acquired a new position in Summit Midstream in the 4th quarter valued at $229,000. Finally, Jane Street Group LLC acquired a new stake in Summit Midstream in the 3rd quarter worth about $227,000. 42.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO J Heath Deneke sold 1,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $41.04, for a total value of $41,040.00. Following the sale, the chief executive officer now directly owns 259,326 shares of the company’s stock, valued at $10,642,739.04. This trade represents a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders have sold 23,052 shares of company stock worth $934,086. Insiders own 5.30% of the company’s stock.

Summit Midstream Stock Performance

Shares of NYSE:SMC opened at $28.14 on Friday. The firm has a market cap of $524.67 million, a PE ratio of -2.20 and a beta of 1.92. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.20. The company’s 50 day moving average price is $33.42 and its two-hundred day moving average price is $36.55. Summit Midstream Corporation has a 12-month low of $25.72 and a 12-month high of $45.89.

Summit Midstream (NYSE:SMC) last announced its quarterly earnings data 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 quarter last year, the company earned ($2.12) EPS.

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.