Nuveen Churchill Direct Lending (NYSE:NCDL) Raised to “Hold” at Wall Street Zen

Nuveen Churchill Direct Lending (NYSE:NCDL) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

NCDL has been the topic of a number of other research reports. UBS Group decreased their target price on Nuveen Churchill Direct Lending from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Zacks Research lowered shares of Nuveen Churchill Direct Lending from a “hold” rating to a “strong sell” rating in a report on Monday, November 10th. Keefe, Bruyette & Woods lowered their price objective on shares of Nuveen Churchill Direct Lending from $17.00 to $16.00 and set a “market perform” rating for the company in a research report on Wednesday, November 5th. Finally, Wells Fargo & Company dropped their price objective on shares of Nuveen Churchill Direct Lending from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $15.75.

Nuveen Churchill Direct Lending Stock Down 2.1%

Shares of NCDL opened at $14.03 on Friday. The firm has a 50 day simple moving average of $14.37 and a two-hundred day simple moving average of $15.35. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.65 and a quick ratio of 1.65. Nuveen Churchill Direct Lending has a one year low of $13.16 and a one year high of $18.01. The company has a market cap of $692.94 million, a P/E ratio of 9.17 and a beta of 0.35.

Nuveen Churchill Direct Lending (NYSE:NCDL) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.03). Nuveen Churchill Direct Lending had a net margin of 36.83% and a return on equity of 11.13%. The business had revenue of $51.11 million during the quarter, compared to the consensus estimate of $52.00 million. Research analysts forecast that Nuveen Churchill Direct Lending will post 2.28 EPS for the current fiscal year.

Insider Transactions at Nuveen Churchill Direct Lending

In related news, Treasurer Shaul Vichness purchased 5,000 shares of Nuveen Churchill Direct Lending stock in a transaction on Monday, November 17th. The shares were purchased at an average price of $14.20 per share, for a total transaction of $71,000.00. Following the transaction, the treasurer owned 20,000 shares of the company’s stock, valued at approximately $284,000. This represents a 33.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kenneth M. Miranda acquired 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was bought at an average cost of $14.10 per share, for a total transaction of $28,200.00. Following the completion of the purchase, the director owned 27,000 shares of the company’s stock, valued at $380,700. This trade represents a 8.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have acquired 27,000 shares of company stock worth $383,600. Company insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NCDL. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Nuveen Churchill Direct Lending by 2.7% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 27,149 shares of the company’s stock worth $375,000 after purchasing an additional 723 shares during the period. Aprio Wealth Management LLC lifted its holdings in Nuveen Churchill Direct Lending by 0.7% in the third quarter. Aprio Wealth Management LLC now owns 114,174 shares of the company’s stock valued at $1,576,000 after buying an additional 742 shares during the period. Modera Wealth Management LLC boosted its position in Nuveen Churchill Direct Lending by 4.3% during the third quarter. Modera Wealth Management LLC now owns 18,283 shares of the company’s stock valued at $252,000 after acquiring an additional 760 shares during the last quarter. State of Wyoming grew its holdings in Nuveen Churchill Direct Lending by 16.4% during the 3rd quarter. State of Wyoming now owns 7,739 shares of the company’s stock worth $107,000 after acquiring an additional 1,090 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in shares of Nuveen Churchill Direct Lending by 33.0% in the 2nd quarter. NewEdge Advisors LLC now owns 4,511 shares of the company’s stock valued at $73,000 after purchasing an additional 1,118 shares during the period.

Nuveen Churchill Direct Lending Company Profile

Nuveen Churchill Direct Lending (NYSE:NCDL) is a closed-end management investment company that seeks to provide shareholders with attractive risk-adjusted returns through a diversified portfolio of direct lending instruments. Established in early 2022, NCDL focuses on privately negotiated debt investments in middle-market companies, primarily within the United States. The fund offers investors access to a segment of the credit markets that has historically been less correlated with public debt markets, aiming to capture yield premiums associated with private lending.

The fund’s investment strategy centers on senior secured loans, unitranche financings and selectively structured mezzanine debt.