In a recent transaction, Saba Capital Management, L.P. (Trades, Portfolio), a renowned investment firm, has increased its stake in ClearBridge MLP & Midstream Fund Inc. (CEM, Financial). This article aims to provide an in-depth analysis of this transaction, the guru's profile, and the traded company's basic information. The data used in this article is accurate as of July 10, 2023.
Overview of the Transaction
On June 29, 2023, Saba Capital Management, L.P. (Trades, Portfolio) added 2,502 shares of ClearBridge MLP & Midstream Fund Inc. to its portfolio at a trade price of $33.45 per share. This transaction increased the guru's total holdings in the company to 1,412,566 shares, representing 0.9% of its portfolio and 10.6% of the company's total shares. The current stock price of ClearBridge MLP & Midstream Fund Inc. stands at $34.75, indicating a gain of 3.89% since the transaction.
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 prominent investment firm with a portfolio of 762 stocks. The firm's top holdings include Templeton Global Income Fund (GIM, Financial), BlackRock Capital Allocation Trust (BCAT, Financial), BlackRock Health Sciences Trust II (BMEZ, Financial), BlackRock Innovation & Growth Tr (BIGZ, Financial), and BlackRock ESG Capital Allocation Trust (ECAT, Financial). The firm's equity stands at $5.24 billion, with a significant focus on the Financial Services and Technology sectors.
Detailed Analysis of ClearBridge MLP & Midstream Fund Inc.
ClearBridge MLP & Midstream Fund Inc., a US-based company, operates in the Asset Management industry. The company, which went public on June 25, 2010, primarily invests in energy master limited partnerships (MLPs) and energy midstream entities. The company's market capitalization stands at $462.878 million. The company's GF Score is 35, indicating a poor future performance potential. The company's financial health is reflected in its rank balance sheet of 3, rank profitability of 1, and rank growth of 0. The company's F Score is 4, and it has a rank momentum of 10.
Performance of ClearBridge MLP & Midstream Fund Inc.
The company's performance is reflected in its ROE of 35.02% and ROA of 24.40%, ranking 75 and 65 respectively. However, the company has not shown any growth in gross margin, operating margin, revenue, EBITDA, or earnings over the past three years.
Predictability and Momentum of ClearBridge MLP & Midstream Fund Inc.
The company's RSI 5 day, RSI 9 day, and RSI 14 day stand at 60.66, 60.04, and 58.50 respectively. The company's momentum index 6 - 1 month is 0.62, and its momentum index 12 - 1 month is 18.02. The company's rank RSI 14 day is 1417, and its rank momentum index 6 - 1 month is 579.
Conclusion
In conclusion, Saba Capital Management, L.P. (Trades, Portfolio)'s recent acquisition of ClearBridge MLP & Midstream Fund Inc. shares has slightly increased the guru's stake in the company. Despite the company's poor future performance potential and lack of growth, the guru's investment could be based on other factors not covered in this analysis. As always, investors are advised to conduct their own comprehensive research before making investment decisions.
