Saba Capital Management, L.P. Increases Stake in ClearBridge Energy Midstream Opportunity Fund Inc
On October 17, 2023, Saba Capital Management, L.P. (Trades, Portfolio), a New York-based investment firm, added 32,388 shares of ClearBridge Energy Midstream Opportunity Fund Inc (NYSE:EMO) to its portfolio. The shares were acquired at a price of $32.51 per share, bringing the firm's total holdings in EMO to 2,636,531 shares. This transaction represents a 1.24% change in the firm's holdings and has a 0.03% impact on its portfolio. The firm now holds a 20.61% stake in EMO, making it a significant part of its investment strategy.
About Saba Capital Management, L.P. (Trades, Portfolio)
Saba Capital Management, L.P. (Trades, Portfolio) is a prominent investment firm located at 405 Lexington Avenue, New York. The firm manages a diverse portfolio of 624 stocks, with a total equity of $3.84 billion. Its 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 primarily focuses on the Financial Services and Technology sectors.
ClearBridge Energy Midstream Opportunity Fund Inc: A Brief Overview
ClearBridge Energy Midstream Opportunity Fund Inc (NYSE:EMO) is a non-diversified, closed-end management investment company based in the USA. The company's primary objective is to provide long-term investors with a high level of total return, with an emphasis on cash distributions. EMO operates in a single segment and has a market capitalization of $404.531 million. The company's stock is currently priced at $31.6354, representing a decrease of 2.69% since the transaction.
Stock Performance and Valuation
Since its IPO on June 10, 2011, EMO's stock price has decreased by 66.54%. However, the stock has shown a year-to-date price change ratio of 14.66%. Due to insufficient data, the GF Value and the stock's valuation cannot be evaluated.
Financial Health and Future Performance Potential
EMO's GF Score is 40/100, indicating poor future performance potential. The company's Financial Strength is ranked 5/10, while its Profitability Rank is 2/10. The company's Growth Rank is 0/10, indicating a lack of growth. The company's Piotroski F-Score is 4, and its Altman Z score is 0.00, indicating potential financial distress.
Momentum and Industry Position
EMO's Momentum Rank is 10/10, indicating strong momentum. The company operates in the Asset Management industry and has an ROE rank of 1331 and an ROA rank of 1324, indicating its relative performance within the industry.
Growth and Profitability Metrics
Due to insufficient data, the company's Gross Margin Growth, Operating Margin Growth, and 3-year Earnings Growth are not applicable. The company's ROE is -7.94, and its ROA is -5.44, indicating its profitability.
Conclusion
In conclusion, Saba Capital Management, L.P. (Trades, Portfolio)'s recent acquisition of EMO shares represents a significant addition to its portfolio. Despite EMO's poor future performance potential and potential financial distress, the firm's strong momentum and significant stake in the company indicate its confidence in EMO's long-term prospects. This transaction provides valuable insights for value investors and highlights the importance of comprehensive financial analysis in investment decision-making.
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.
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