Truist Financial Has Lowered Expectations for Nuveen Churchill Direct Lending (NYSE:NCDL) Stock Price

Nuveen Churchill Direct Lending (NYSE:NCDL) had its target price cut by equities researchers at Truist Financial from $18.00 to $16.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 20.30% from the stock’s current price.

NCDL has been the topic of a number of other reports. Zacks Research raised shares of Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a research note on Friday, January 9th. Wall Street Zen downgraded shares of Nuveen Churchill Direct Lending from a “hold” rating to a “sell” rating in a research report on Monday. Keefe, Bruyette & Woods cut their price objective on shares of Nuveen Churchill Direct Lending from $16.00 to $15.00 and set a “market perform” rating on the stock in a research report on Friday, February 27th. Finally, Wells Fargo & Company reduced their target price 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. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $15.40.

Nuveen Churchill Direct Lending Trading Down 0.3%

NCDL stock opened at $13.30 on Wednesday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.27. Nuveen Churchill Direct Lending has a twelve month low of $12.54 and a twelve month high of $17.59. The company has a market cap of $656.89 million, a P/E ratio of 10.15 and a beta of 0.44. The business has a fifty day moving average of $13.56 and a 200-day moving average of $14.26.

Nuveen Churchill Direct Lending (NYSE:NCDL) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Nuveen Churchill Direct Lending had a return on equity of 10.48% and a net margin of 31.57%.The firm had revenue of $26.36 million during the quarter, compared to analyst estimates of $49.60 million. As a group, equities research analysts expect that Nuveen Churchill Direct Lending will post 2.28 EPS for the current year.

Insider Buying and Selling

In related news, Director Kenneth M. Miranda acquired 3,000 shares of the stock in a transaction on Tuesday, March 3rd. The shares were purchased at an average price of $12.83 per share, for a total transaction of $38,490.00. Following the purchase, the director directly owned 30,000 shares in the company, valued at approximately $384,900. The trade was a 11.11% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kenneth J. Kencel bought 10,000 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were bought at an average price of $13.04 per share, with a total value of $130,400.00. Following the completion of the transaction, the chief executive officer owned 58,117 shares in the company, valued at approximately $757,845.68. This trade represents a 20.78% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Nuveen Churchill Direct Lending

A number of large investors have recently bought and sold shares of NCDL. BNP Paribas Financial Markets raised its position in shares of Nuveen Churchill Direct Lending by 190.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,400 shares of the company’s stock valued at $33,000 after buying an additional 1,573 shares in the last quarter. Advisory Services Network LLC bought a new position in Nuveen Churchill Direct Lending in the third quarter valued at approximately $38,000. NewEdge Advisors LLC raised its position in Nuveen Churchill Direct Lending by 33.0% during the second 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 in the last quarter. Quadrant Capital Group LLC bought a new stake in Nuveen Churchill Direct Lending during the third quarter worth $80,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of Nuveen Churchill Direct Lending in the 3rd quarter valued at $85,000.

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.