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

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

Several other equities research analysts have also issued reports on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Nuveen Churchill Direct Lending from $16.00 to $15.00 and set a “market perform” rating on the stock in a report on Friday, February 27th. Zacks Research lowered shares of Nuveen Churchill Direct Lending from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 26th. Truist Financial lowered their price target on shares of Nuveen Churchill Direct Lending from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Wells Fargo & Company lowered their price target on shares of Nuveen Churchill Direct Lending from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 4th. Finally, UBS Group lowered their price target on shares of Nuveen Churchill Direct Lending from $15.50 to $14.75 and set a “neutral” rating on the stock in a report on Monday, May 18th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $15.35.

Nuveen Churchill Direct Lending Price Performance

Shares of Nuveen Churchill Direct Lending stock opened at $12.78 on Friday. The firm has a market capitalization of $631.06 million, a PE ratio of 10.65 and a beta of 0.50. The company’s fifty day moving average price is $13.48 and its two-hundred day moving average price is $13.67. Nuveen Churchill Direct Lending has a 52-week low of $12.43 and a 52-week high of $17.27.

Nuveen Churchill Direct Lending (NYSE:NCDL) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). The business had revenue of $17.15 million during the quarter, compared to the consensus estimate of $47.79 million. Nuveen Churchill Direct Lending had a net margin of 29.56% and a return on equity of 9.80%. Analysts predict that Nuveen Churchill Direct Lending will post 1.6 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Marissa Hassen bought 3,782 shares of Nuveen Churchill Direct Lending stock in a transaction dated Tuesday, May 12th. The shares were bought at an average price of $13.21 per share, for a total transaction of $49,960.22. Following the purchase, the chief accounting officer owned 9,780 shares of the company’s stock, valued at approximately $129,193.80. This trade represents a 63.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Treasurer Shaul Vichness bought 5,000 shares of Nuveen Churchill Direct Lending stock in a transaction dated Thursday, May 14th. The stock was purchased at an average price of $13.20 per share, for a total transaction of $66,000.00. Following the purchase, the treasurer directly owned 30,705 shares in the company, valued at $405,306. This represents a 19.45% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have bought 31,639 shares of company stock worth $426,430. Corporate insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Nuveen Churchill Direct Lending

Institutional investors and hedge funds have recently made changes to their positions in the company. UBS Group AG boosted its stake in shares of Nuveen Churchill Direct Lending by 40.0% in the 4th quarter. UBS Group AG now owns 689,050 shares of the company’s stock valued at $9,192,000 after purchasing an additional 196,956 shares in the last quarter. MQS Management LLC acquired a new stake in shares of Nuveen Churchill Direct Lending in the 3rd quarter valued at $604,000. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Nuveen Churchill Direct Lending by 14.5% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 479,357 shares of the company’s stock valued at $6,395,000 after purchasing an additional 60,786 shares in the last quarter. Callodine Capital Management LP boosted its stake in shares of Nuveen Churchill Direct Lending by 9.1% in the 3rd quarter. Callodine Capital Management LP now owns 572,800 shares of the company’s stock valued at $7,905,000 after purchasing an additional 47,800 shares in the last quarter. Finally, NewEdge Wealth LLC boosted its stake in shares of Nuveen Churchill Direct Lending by 199.3% in the 1st quarter. NewEdge Wealth LLC now owns 89,776 shares of the company’s stock valued at $1,142,000 after purchasing an additional 59,777 shares in the last quarter.

About Nuveen Churchill Direct Lending

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.