On November 6, 2023, Saba Capital Management, L.P. (Trades, Portfolio), a New York-based investment firm, increased its holdings in ClearBridge MLP & Midstream Fund Inc. (CEM, Financial) by adding 12,716 shares. The transaction, executed at a price of $36.53 per share, increased the firm's total holdings in CEM to 1,913,392 shares. This move had a 0.01% impact on the firm's portfolio and increased its position in CEM to 14.40%.
About Saba Capital Management, L.P. (Trades, Portfolio)
Saba Capital Management, L.P. (Trades, Portfolio), located at 405 Lexington Avenue, New York, NY 10174, is an investment firm with a diverse portfolio. The firm's equity stands at $3.84 billion, spread across 624 stocks. Its 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 investments are primarily concentrated in the Financial Services and Technology sectors.
Overview of ClearBridge MLP & Midstream Fund Inc.
ClearBridge MLP & Midstream Fund Inc. (CEM, Financial), a U.S.-based company, was listed on June 25, 2010. The company operates as a non-diversified, closed-end management investment company, primarily investing in energy master limited partnerships (MLPs) and energy midstream entities. The company operates in a single segment and has a market capitalization of $483.643 million.
Performance and Potential of CEM Stock
As of November 7, 2023, CEM's stock price stands at $36.38. The stock's PE percentage is not applicable as the company is currently at a loss. The GF Value of the stock is also not available, making it impossible to evaluate the stock's GF Valuation. Since its IPO, the stock has declined by 63.62%, but it has gained 12.6% year-to-date. The stock's GF Score is 41/100, indicating a poor future performance potential.
Financial Health and Momentum of CEM Stock
CEM's financial health is reflected in its Financial Strength rank of 5/10 and Profitability Rank of 2/10. The company's Growth Rank is not applicable due to insufficient data. The stock's GF Value Rank and Momentum Rank are also not available. The company's Piotroski F-Score is 4, and its Altman Z score is not applicable. The company's ROE and ROA stand at -8.16 and -5.61, respectively.
CEM's momentum is reflected in its RSI 5 Day of 70.67, RSI 9 Day of 63.39, and RSI 14 Day of 58.45. The stock's Momentum Index 6 - 1 Month is 7.15, and its Momentum Index 12 - 1 Month is -4.10.
Conclusion
In conclusion, Saba Capital Management, L.P. (Trades, Portfolio)'s recent acquisition of additional shares in ClearBridge MLP & Midstream Fund Inc. has increased its stake in the company to 14.40%. Despite the stock's poor performance and potential, the firm's increased investment in CEM could be a strategic move based on its investment philosophy. However, value investors should carefully consider the stock's financial health and momentum before making investment decisions.
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.
