Saba Capital Management, L.P. Boosts Stake in ClearBridge Energy Midstream Opportunity Fund Inc
On October 24, 2023, Saba Capital Management, L.P. (Trades, Portfolio), a New York-based investment firm, increased its holdings in ClearBridge Energy Midstream Opportunity Fund Inc (NYSE:EMO). The firm added 12,665 shares to its portfolio, representing a 0.47% change in shares. This transaction had a minor impact of 0.01% on the firm's portfolio.
Profile of Saba Capital Management, L.P. (Trades, Portfolio)
Saba Capital Management, L.P. (Trades, Portfolio), located at 405 Lexington Avenue, New York, NY 10174, is a renowned investment firm. The firm's portfolio consists of 624 stocks, with a total equity of $3.84 billion. 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 top sectors are Financial Services and Technology.
Details of the Trade
The shares were acquired at a trade price of $31.61. Following this transaction, Saba Capital Management, L.P. (Trades, Portfolio) now holds a total of 2,684,109 shares in ClearBridge Energy Midstream Opportunity Fund Inc, representing 2.21% of the firm's portfolio. The firm's holdings in the traded stock now stand at 20.99%.
Information on ClearBridge Energy Midstream Opportunity Fund Inc
ClearBridge Energy Midstream Opportunity Fund Inc (NYSE:EMO), a USA-based company, is a non-diversified, closed-end management investment company. The company, which operates in a single segment, aims to provide long-term investors with a high level of total return with an emphasis on cash distributions. The company's market capitalization stands at $404.59 million. The current stock price is $31.64. The company's PE percentage is 0.00, indicating that the company is currently at a loss. The GF Value of the stock is 0.00, and the Price to GF Value is also 0.00, indicating that the stock's GF Valuation cannot be evaluated due to insufficient data.
Performance of the Stock
Since the transaction, the stock has gained 0.09%. However, since its IPO on June 10, 2011, the stock has declined by 66.54%. The year-to-date price change ratio stands at 14.68%. The stock's GF Score is 41/100, indicating poor future performance potential. The stock's Balance Sheet Rank is 5/10, its Profitability Rank is 2/10, and its Growth Rank is 0/10. The stock's GF Value Rank and Momentum Rank are also 0/10, indicating a lack of data for these metrics.
Financial Health of the Stock
The stock's Piotroski F-Score is 4, and its Altman Z score is 0.00, indicating a lack of data. The stock's cash to debt ratio is also 0.00. The stock's ROE is -7.94, and its ROA is -5.44.
Stock's Growth and Momentum
The stock's gross margin growth, operating margin growth, and three-year revenue growth are all 0.00, indicating a lack of data. The stock's RSI 5 Day is 48.82, its RSI 9 Day is 50.25, and its RSI 14 Day is 50.54. The stock's Momentum Index 6 - 1 Month is 17.45, and its Momentum Index 12 - 1 Month is 14.69.
Conclusion
In conclusion, Saba Capital Management, L.P. (Trades, Portfolio)'s recent acquisition of shares in ClearBridge Energy Midstream Opportunity Fund Inc represents a strategic move by the firm. Despite the stock's poor performance metrics and lack of financial data, the firm's increased stake in the company could potentially yield significant returns in the future. This transaction provides valuable insights for value investors, highlighting the importance of strategic investment decisions in the face of uncertain market conditions.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
