Saba Capital Management, L.P. Boosts Stake in ClearBridge Energy Midstream Opportunity Fund Inc
On August 18, 2023, Saba Capital Management, L.P., a New York-based investment firm, increased its holdings in ClearBridge Energy Midstream Opportunity Fund Inc (NYSE:EMO). The firm added 16,785 shares to its portfolio, bringing its total holdings to 2,375,777 shares. This transaction, priced at $31.42 per share, represents a 0.71% change in the firm's holdings and has a 0.01% impact on its portfolio. The firm now holds a 1.95% position in its portfolio and a significant 18.58% stake in ClearBridge Energy Midstream Opportunity Fund Inc.
About Saba Capital Management, L.P.
Saba Capital Management, L.P. 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's investments are primarily concentrated in the Financial Services and Technology sectors.
ClearBridge Energy Midstream Opportunity Fund Inc: A Brief Overview
ClearBridge Energy Midstream Opportunity Fund Inc (NYSE:EMO), based in the USA, is a non-diversified, closed-end management investment company. The company, which went public on June 10, 2011, aims to provide long-term investors with a high level of total return, with an emphasis on cash distributions. The company operates in a single segment and has a market capitalization of $407.914 million. The current stock price stands at $31.9.
Performance and Potential of EMO Stock
ClearBridge Energy Midstream Opportunity Fund Inc's stock performance is currently not profitable, with a PE percentage of 0.00. The GF Value, which represents the intrinsic value of the stock, is also not applicable. Despite this, the stock has seen a gain of 1.53% since the transaction and a year-to-date increase of 15.62%. However, it has declined by 66.26% since its IPO.
The stock's GF Score is 41 out of 100, indicating a poor future performance potential. Its Financial Strength is ranked 5 out of 10, while its Profitability Rank is 2 out of 10. The stock's Growth Rank and GF Value Rank are both not applicable, but it has a strong Momentum Rank of 8 out of 10.
Financial Health and Growth of EMO
ClearBridge Energy Midstream Opportunity Fund Inc's financial health is characterized by a cash to debt ratio and an Altman Z score of 0.00, indicating a lack of data. The company's ROE and ROA are -7.94 and -5.44, respectively, with respective ranks of 1144 and 1127. The company's gross margin growth and operating margin growth are also not applicable. Over the past three years, the company's revenue growth, EBITDA growth, and earning growth have all been 0.00, indicating lack of growth data.
EMO's Stock Momentum
The stock's RSI 5 Day, RSI 9 Day, and RSI 14 Day are 59.27, 56.30, and 56.99, respectively. The Momentum Index 6 - 1 Month and Momentum Index 12 - 1 Month are 5.89 and 4.27, respectively. The RSI 14 Day Rank is 1535, and the Momentum Index 6 - 1 Month Rank is 350.
Transaction Analysis
The recent acquisition by Saba Capital Management, L.P. indicates a strong belief in the potential of ClearBridge Energy Midstream Opportunity Fund Inc. Despite the stock's current performance and potential indicators, the firm's increased stake could signal an expected turnaround. This transaction has not only increased the firm's influence on EMO but also diversified its portfolio in the Asset Management industry.
All data and rankings are accurate as of August 22, 2023.
This article first appeared on GuruFocus.
