Saba Capital Management, L.P., a renowned investment firm, has recently added to its portfolio by acquiring a significant stake in PIMCO Energy & Tactical Credit Opportunities (NRGX, Financial). This article provides an in-depth analysis of the transaction, the profiles of the guru and the traded company, and the potential implications of this acquisition.
Details of the Transaction
The transaction took place on 2023-08-24, with Saba Capital Management, L.P. adding 610,8888 shares of NRGX to its portfolio. The shares were acquired at a price of $16.96 each, resulting in a trade change of 0.55. This acquisition has a minor impact of 0.01 on the firm's portfolio. Following this transaction, NRGX now constitutes 2.7% of the firm's portfolio, and the firm holds a 13.66% stake in NRGX.
Profile of the Guru: Saba Capital Management, L.P.
Saba Capital Management, L.P., located at 405 Lexington Avenue, New York, NY 10174, is a prominent investment firm. The firm currently holds 624 stocks in its portfolio, with a total equity of $3.84 billion. 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 primarily invests in the Financial Services and Technology sectors.
Overview of the Traded Stock: PIMCO Energy & Tactical Credit Opportunities
PIMCO Energy & Tactical Credit Opportunities (NRGX, Financial) is a non-diversified, limited term closed-end management investment company based in the USA. The company's primary investment objective is to seek total return, with a secondary objective to provide high current income. As of 2023-08-25, the company has a market cap of $761.808 million and a PE Percentage of 5.06. However, due to insufficient data, the GF Valuation of the stock cannot be evaluated.
Performance and Valuation of the Traded Stock
NRGX has a GF Score of 36/100, indicating a poor future performance potential. The company's Financial Strength is ranked 3/10, while its Profitability Rank is 1/10. The company's Growth Rank is 0/10, indicating no growth. However, the company's Momentum Rank is 10/10, suggesting strong momentum.
The Stock's Industry Performance
NRGX operates in the Asset Management industry. The company has a ROE of 20.87 and a ROA of 15.03. Over the past three years, the company has seen a revenue growth of 51.80. However, the company's gross margin growth and operating margin growth are both 0.00, indicating no growth in these areas.
The Stock's Momentum and Predictability
NRGX has a 5-day RSI of 46.10, a 9-day RSI of 54.89, and a 14-day RSI of 58.95. The company's Momentum Index for 6 - 1 Month is 7.68, while its Momentum Index for 12 - 1 Month is 3.99. However, the company's predictability rank is not available due to insufficient data.
Conclusion
In conclusion, Saba Capital Management, L.P.'s recent acquisition of NRGX shares represents a strategic move to diversify its portfolio. While NRGX's growth potential is currently low, its strong momentum and solid industry performance may offer promising returns in the future. However, investors should keep in mind that all data and rankings are accurate as of 2023-08-25 and are subject to change.
