Saba Capital Management, L.P. Boosts Stake in PIMCO Energy & Tactical Credit Opportunities
Saba Capital Management, L.P. (Trades, Portfolio), a New York-based investment firm, has recently increased its holdings in PIMCO Energy & Tactical Credit Opportunities (NYSE:NRGX). The transaction, which took place on August 8, 2023, saw the firm add 76,421 shares to its portfolio, bringing its total holdings in NRGX to 5,828,457 shares. This article provides an in-depth analysis of the transaction, the profiles of the guru and the traded company, and the financial health and performance of the traded stock.
Details of the Transaction
The transaction was executed at a trade price of $16.6 per share, resulting in a 1.33% change in the firm's holdings. The trade had a minor impact of 0.02% on the firm's portfolio, with NRGX now accounting for 1.85% of the total portfolio. Saba Capital Management, L.P. (Trades, Portfolio) now holds a significant 13.04% stake in NRGX.
Profile of Saba Capital Management, L.P. (Trades, Portfolio)
Saba Capital Management, L.P. (Trades, Portfolio), located at 405 Lexington Avenue, New York, is a renowned investment firm with a diverse portfolio. The firm's top holdings include Templeton Global Income Fund (NYSE:GIM), BlackRock Capital Allocation Trust (NYSE:BCAT), BlackRock Health Sciences Trust II (NYSE:BMEZ), BlackRock Innovation & Growth Tr (NYSE:BIGZ), and BlackRock ESG Capital Allocation Trust (NYSE:ECAT). The firm's equity stands at $5.24 billion, with a strong focus on the Financial Services and Technology sectors.
Overview of PIMCO Energy & Tactical Credit Opportunities
PIMCO Energy & Tactical Credit Opportunities (NYSE:NRGX) is a non-diversified, limited term closed-end management investment company based in the USA. The company operates in a single segment and has a market capitalization of $750.183 million. The current stock price stands at $16.78, with a PE percentage of 4.98. The GF Value of the stock could not be evaluated due to insufficient data.
Stock Valuation and Performance
Since the transaction, NRGX has seen a gain of 1.08%. The stock has experienced a decline of 16.1% since its IPO, but has seen a year-to-date increase of 14.93%. The GF Score of the stock is 37/100, indicating a poor future performance potential.
Financial Health of the Traded Stock
The financial strength of NRGX is ranked 3/10, with a profitability rank of 2/10 and a growth rank of 0/10. The Piotroski F-Score is 2, indicating a weak financial situation. The Altman Z score and cash to debt ratio are not applicable due to insufficient data.
Stock's Position in its Industry
NRGX operates in the Asset Management industry and has an ROE of 20.87 and an ROA of 15.03. The company's gross margin growth and operating margin growth are not available due to insufficient data. However, the company has seen a 3-year revenue growth of 51.80%.
Stock's Momentum and Predictability
The stock's RSI 5 Day, RSI 9 Day, and RSI 14 Day are 64.51, 65.24, and 65.33 respectively. The Momentum Index 6 - 1 Month is 1.09, and the Momentum Index 12 - 1 Month is 7.93. The predictability rank of the stock is not available.
In conclusion, Saba Capital Management, L.P. (Trades, Portfolio)'s recent acquisition of NRGX shares has slightly increased its stake in the company. Despite the stock's poor GF Score and financial health, the firm's increased investment could be a strategic move based on the stock's year-to-date performance and the firm's investment philosophy.
This article first appeared on GuruFocus.
