On August 16, 2023, Saba Capital Management, L.P., a New York-based investment firm, made a significant move in the stock market by acquiring a new stake in Integrated Rail and Resources Acquisition Corp (IRRX.U, Financial). This article provides an in-depth analysis of the transaction, the profiles of the guru and the traded company, and the performance of the traded stock.
Details of the Transaction
The transaction saw Saba Capital Management, L.P. buy 238,251 shares of Integrated Rail and Resources Acquisition Corp at a trading price of $10.9999 per share. This acquisition had a 0.07% impact on the guru's portfolio, increasing their total holdings in the company to 238,251 shares, which now represents 1.95% of the company's total shares. The transaction has positioned the traded stock to account for 0.07% of the guru's portfolio.
Profile of the Guru: Saba Capital Management, L.P.
Saba Capital Management, L.P., located at 405 Lexington Avenue, New York, is a renowned investment firm with a diverse portfolio. The firm holds 624 stocks, 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's investments are primarily concentrated in the Financial Services and Technology sectors.
Overview of the Traded Stock: Integrated Rail and Resources Acquisition Corp
Integrated Rail and Resources Acquisition Corp, a US-based blank check company, was established for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company, which went public on November 12, 2021, currently has a market capitalization of $0.000 million and a stock price of $10.9999. The company's PE percentage stands at 134.25. However, due to insufficient data, the GF Valuation of the stock cannot be evaluated.
Performance of the Traded Stock
Since the transaction, the stock's price has remained stable with a gain percent of 0. However, since its IPO, the stock has seen a price increase of 10%, and a year-to-date price change ratio of 7.53%. The stock's GF Score is 20/100, indicating poor future performance potential.
Financial Health of the Traded Stock
Integrated Rail and Resources Acquisition Corp has a Financial Strength rank of 9/10, a Profitability Rank of 1/10, and a Growth Rank of 0/10. The company's Piotroski F-Score is 3, and its Altman Z score is 0.00, indicating financial instability. The company's cash to debt ratio is 0.10, ranking it 564th in the industry.
Stock's Industry Performance
Integrated Rail and Resources Acquisition Corp operates in the Diversified Financial Services industry. The company has an interest coverage of 10000.00, ranking it first in the industry. Its ROE and ROA are 1.31 and 1.22, respectively, ranking it 318th and 294th in the industry.
Stock's Growth and Momentum
The company's gross margin growth and operating margin growth are both 0.00. Its RSI 5 Day, RSI 9 Day, and RSI 14 Day are 99.52, 95.73, and 87.79, respectively. The company's momentum index 6 - 1 month is 3.22, and its momentum index 12 - 1 month is 6.97, ranking it 314th in the industry.
In conclusion, Saba Capital Management, L.P.'s acquisition of a new stake in Integrated Rail and Resources Acquisition Corp is a significant move that could potentially influence the performance of both the guru's portfolio and the traded stock. However, the financial health and performance of the traded stock suggest caution for potential investors.
