Wells Fargo & Company Lowers Nuveen Churchill Direct Lending (NYSE:NCDL) Price Target to $13.00

Nuveen Churchill Direct Lending (NYSE:NCDL) had its price objective lowered by stock analysts at Wells Fargo & Company from $14.00 to $13.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential downside of 2.26% from the stock’s current price.

NCDL has been the topic of a number of other reports. Wall Street Zen lowered Nuveen Churchill Direct Lending from a “hold” rating to a “sell” rating in a research note on Monday. Zacks Research upgraded shares of Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a research report on Friday, January 9th. Truist Financial lowered their target price on shares of Nuveen Churchill Direct Lending from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Nuveen Churchill Direct Lending from $16.00 to $15.00 and set a “market perform” rating for the company in a research report on Friday, February 27th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $15.40.

Nuveen Churchill Direct Lending Stock Down 0.3%

Shares of NYSE:NCDL opened at $13.30 on Wednesday. The firm has a fifty day moving average price of $13.56 and a two-hundred day moving average price of $14.26. The company has a market cap of $656.89 million, a price-to-earnings ratio of 10.15 and a beta of 0.44. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.85 and a quick ratio of 1.85. Nuveen Churchill Direct Lending has a one year low of $12.54 and a one year high of $17.59.

Nuveen Churchill Direct Lending (NYSE:NCDL) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The firm had revenue of $26.36 million for the quarter, compared to analysts’ expectations of $49.60 million. Nuveen Churchill Direct Lending had a net margin of 31.57% and a return on equity of 10.48%. Analysts anticipate that Nuveen Churchill Direct Lending will post 2.28 EPS for the current fiscal year.

Insider Activity at Nuveen Churchill Direct Lending

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

Institutional Trading of Nuveen Churchill Direct Lending

Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its stake in shares of Nuveen Churchill Direct Lending by 190.2% during the third 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 during the last quarter. Advisory Services Network LLC bought a new stake in shares of Nuveen Churchill Direct Lending in the 3rd quarter valued at about $38,000. NewEdge Advisors LLC boosted its holdings in Nuveen Churchill Direct Lending by 33.0% during the 2nd quarter. NewEdge Advisors LLC now owns 4,511 shares of the company’s stock valued at $73,000 after acquiring an additional 1,118 shares during the period. Quadrant Capital Group LLC bought a new position in Nuveen Churchill Direct Lending during the 3rd quarter worth approximately $80,000. Finally, Global Retirement Partners LLC purchased a new position in Nuveen Churchill Direct Lending in the 3rd quarter worth approximately $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.