Zacks Research Downgrades Nuveen Churchill Direct Lending (NYSE:NCDL) to Strong Sell

Nuveen Churchill Direct Lending (NYSE:NCDL) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods reduced their price target on 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. Truist Financial reduced their price target on Nuveen Churchill Direct Lending from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Wall Street Zen upgraded Nuveen Churchill Direct Lending from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. UBS Group reduced their price target on Nuveen Churchill Direct Lending from $15.50 to $14.75 and set a “neutral” rating for the company in a research report on Monday, May 18th. Finally, Wells Fargo & Company reduced their price target on Nuveen Churchill Direct Lending from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 4th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $15.35.

Nuveen Churchill Direct Lending Stock Performance

NCDL stock opened at $12.90 on Tuesday. The business’s 50-day moving average is $13.51 and its two-hundred day moving average is $13.73. The company has a market cap of $637.28 million, a price-to-earnings ratio of 10.75 and a beta of 0.63. Nuveen Churchill Direct Lending has a fifty-two week low of $12.43 and a fifty-two week high of $17.27.

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

Insider Activity

In other Nuveen Churchill Direct Lending news, CAO Marissa Hassen bought 3,782 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average price of $13.21 per share, for a total transaction of $49,960.22. Following the completion of the transaction, the chief accounting officer owned 9,780 shares of the company’s stock, valued at $129,193.80. This trade represents a 63.05% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mat Linett bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The shares were acquired at an average price of $13.05 per share, with a total value of $26,100.00. Following the transaction, the director directly owned 10,365 shares of the company’s stock, valued at $135,263.25. This represents a 23.91% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 56,329 shares of company stock valued at $751,066 in the last three months. 0.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nuveen Churchill Direct Lending

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NCDL. BNP Paribas Financial Markets boosted its stake in 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 position in Nuveen Churchill Direct Lending during the third quarter valued at approximately $38,000. NewEdge Advisors LLC boosted its stake 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 buying an additional 1,118 shares during the last quarter. Quadrant Capital Group LLC bought a new position in Nuveen Churchill Direct Lending during the third quarter valued at approximately $80,000. Finally, State of Wyoming boosted its stake in Nuveen Churchill Direct Lending by 16.4% during the third quarter. State of Wyoming now owns 7,739 shares of the company’s stock valued at $107,000 after buying an additional 1,090 shares during the last quarter.

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.