On October 23, 2023, Saba Capital Management, L.P. (Trades, Portfolio), a renowned investment firm, added to its holdings in Nuveen Multi-Asset Income Fund (NMAI, Financial). This article provides an in-depth analysis of the transaction, the profiles of the firm and the traded company, and an evaluation of the stock's performance and key metrics.
Details of the Transaction
The firm acquired an additional 18,438 shares of NMAI at a trade price of $10.67 per share. This transaction increased the firm's total holdings in NMAI to 4,272,409 shares, representing 1.19% of the firm's portfolio and 12.78% of NMAI's total shares. The trade 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 prominent investment firm. The firm's portfolio comprises 624 stocks, with a total equity of $3.84 billion. 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 investments are primarily concentrated in the Financial Services and Technology sectors.
Overview of Nuveen Multi-Asset Income Fund
Nuveen Multi-Asset Income Fund (NMAI, Financial), based in the USA, is a closed-end management investment company. The company's objective is to pursue total return, comprised of income or distributions and capital appreciation. NMAI operates in a single segment and has a market capitalization of $355.983 million. The stock's current price is $10.65, with a PE percentage of 16.64. The GF Value of the stock is not available, indicating that the stock's valuation cannot be evaluated.
Analysis of the Traded Stock
Since the transaction, the stock's price has decreased by 0.19%. The stock's year-to-date price change ratio is -8.19%, and the price change ratio since its Initial Public Offering (IPO) is -32.29%. The stock's GF Score is 16/100, indicating poor future performance potential.
Evaluation of the Stock's Performance
NMAI's Financial Strength is ranked 3/10, its Profitability Rank is 1/10, and its Growth Rank is 0/10. The stock's GF Value Rank and Momentum Rank are also 0/10. The stock's Altman Z score is 0.00, and its cash to debt ratio is also 0.00.
Examination of the Stock's Key Metrics
The stock's Return on Equity (ROE) is 4.58, ranking 694, and its Return on Assets (ROA) is 2.98, ranking 660. The stock's gross margin growth, operating margin growth, 3-year revenue growth, EBITDA growth, and earning growth are all 0.00. The stock's predictability rank is not available.
Assessment of the Stock's Momentum
The stock's RSI 5 Day is 21.36, RSI 9 Day is 23.47, and RSI 14 Day is 25.12, ranking 194. The stock's momentum index 6 - 1 month is -3.58, ranking 861, and its momentum index 12 - 1 month is 4.91.
In conclusion, Saba Capital Management, L.P. (Trades, Portfolio)'s recent acquisition of NMAI shares has slightly increased its stake in the company. However, given NMAI's poor performance metrics and the stock's negative price trend, the transaction's impact on the firm's portfolio and the stock's future performance remains to be seen.
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.
