MQS Management LLC Purchases New Shares in Nuveen Churchill Direct Lending Corp. $NCDL

MQS Management LLC acquired a new stake in shares of Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 43,734 shares of the company’s stock, valued at approximately $604,000. MQS Management LLC owned approximately 0.09% of Nuveen Churchill Direct Lending at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. NewEdge Advisors LLC raised its holdings in shares of Nuveen Churchill Direct Lending by 33.0% in 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 during the last quarter. Global Retirement Partners LLC purchased a new position in Nuveen Churchill Direct Lending during the third quarter worth about $85,000. State of Wyoming grew its position in Nuveen Churchill Direct Lending by 16.4% in the 3rd quarter. State of Wyoming now owns 7,739 shares of the company’s stock worth $107,000 after purchasing an additional 1,090 shares in the last quarter. AlphaQuest LLC purchased a new stake in Nuveen Churchill Direct Lending in the 3rd quarter valued at about $135,000. Finally, Quantbot Technologies LP bought a new position in shares of Nuveen Churchill Direct Lending during the 2nd quarter worth approximately $152,000.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NCDL. Keefe, Bruyette & Woods cut their target price on 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. UBS Group dropped their price target on Nuveen Churchill Direct Lending from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Wall Street Zen upgraded Nuveen Churchill Direct Lending from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th. Wells Fargo & Company decreased their target price on Nuveen Churchill Direct Lending from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Finally, Zacks Research upgraded Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a research note on Friday, January 9th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $15.75.

Nuveen Churchill Direct Lending Price Performance

Shares of NYSE NCDL opened at $14.07 on Wednesday. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.25. The stock has a fifty day simple moving average of $13.83 and a two-hundred day simple moving average of $14.55. Nuveen Churchill Direct Lending Corp. has a 1-year low of $12.95 and a 1-year high of $18.01. The firm has a market cap of $694.92 million, a price-to-earnings ratio of 9.20 and a beta of 0.40.

Insider Buying and Selling at Nuveen Churchill Direct Lending

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

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.