Nuveen Churchill Direct Lending (NYSE:NCDL) Shares Down 4.1% – What’s Next?

Shares of Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) fell 4.1% during mid-day trading on Friday . The company traded as low as $13.54 and last traded at $13.4710. 2,542 shares were traded during trading, a decline of 99% from the average session volume of 248,779 shares. The stock had previously closed at $14.05.

Analyst Upgrades and Downgrades

Several research firms recently commented on NCDL. Keefe, Bruyette & Woods decreased their price objective 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 report on Wednesday, November 5th. Zacks Research raised shares of Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a report on Friday, January 9th. Wall Street Zen cut shares of Nuveen Churchill Direct Lending from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Finally, Wells Fargo & Company reduced their target price on Nuveen Churchill Direct Lending from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $15.75.

Nuveen Churchill Direct Lending Stock Up 0.2%

The firm has a 50-day moving average of $13.72 and a 200 day moving average of $14.46. The stock has a market capitalization of $678.12 million, a price-to-earnings ratio of 8.97 and a beta of 0.40. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.25.

Institutional Trading of Nuveen Churchill Direct Lending

A number of hedge funds and other institutional investors have recently made changes to their positions in NCDL. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Nuveen Churchill Direct Lending by 2.7% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 27,149 shares of the company’s stock worth $375,000 after purchasing an additional 723 shares during the last quarter. Aprio Wealth Management LLC grew its position in shares of Nuveen Churchill Direct Lending by 0.7% during the third quarter. Aprio Wealth Management LLC now owns 114,174 shares of the company’s stock worth $1,576,000 after acquiring an additional 742 shares during the last quarter. Modera Wealth Management LLC increased its holdings in shares of Nuveen Churchill Direct Lending by 4.3% in the 3rd quarter. Modera Wealth Management LLC now owns 18,283 shares of the company’s stock worth $252,000 after acquiring an additional 760 shares during the period. State of Wyoming lifted 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 valued at $107,000 after purchasing an additional 1,090 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake 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 purchasing an additional 1,118 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.