Nuveen Churchill Direct Lending (NYSE:NCDL) Downgraded by Wall Street Zen to “Sell”

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

NCDL has been the subject of several other reports. Zacks Research raised Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a research report on Friday, January 9th. Wells Fargo & Company reduced 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 report on Wednesday, November 5th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Nuveen Churchill Direct Lending from $17.00 to $16.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 5th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Nuveen Churchill Direct Lending currently has an average rating of “Hold” and a consensus target price of $15.75.

Nuveen Churchill Direct Lending Trading Down 0.0%

Nuveen Churchill Direct Lending stock opened at $14.11 on Friday. Nuveen Churchill Direct Lending has a 12 month low of $12.95 and a 12 month high of $18.01. The stock has a market cap of $697.04 million, a price-to-earnings ratio of 9.22 and a beta of 0.40. The business has a 50 day moving average price of $13.78 and a two-hundred day moving average price of $14.52. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.25.

Insider Transactions at Nuveen Churchill Direct Lending

In related news, Treasurer Shaul Vichness purchased 5,000 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were acquired at an average cost of $14.20 per share, with a total value of $71,000.00. Following the completion of the purchase, the treasurer directly owned 20,000 shares of the company’s stock, valued at $284,000. This trade represents a 33.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenneth M. Miranda purchased 2,000 shares of the stock in a transaction that occurred on Wednesday, November 19th. The stock was bought at an average cost of $14.10 per share, with a total value of $28,200.00. Following the acquisition, the director owned 27,000 shares of the company’s stock, valued at $380,700. This represents a 8.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.62% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Ares Management LLC increased its stake in shares of Nuveen Churchill Direct Lending by 188.3% in the 4th quarter. Ares Management LLC now owns 360,830 shares of the company’s stock valued at $4,813,000 after buying an additional 235,674 shares during the period. Bulldog Investors LLP acquired a new stake in Nuveen Churchill Direct Lending in the fourth quarter worth about $2,313,000. QTR Family Wealth LLC raised its holdings in Nuveen Churchill Direct Lending by 25.7% during the 4th quarter. QTR Family Wealth LLC now owns 25,568 shares of the company’s stock worth $361,000 after purchasing an additional 5,232 shares during the last quarter. Van ECK Associates Corp raised its holdings in Nuveen Churchill Direct Lending by 14.6% during the 4th quarter. Van ECK Associates Corp now owns 839,143 shares of the company’s stock worth $11,194,000 after purchasing an additional 106,610 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in Nuveen Churchill Direct Lending by 42.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 50,028 shares of the company’s stock valued at $667,000 after purchasing an additional 14,899 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.