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

Wall Street Zen lowered shares of Nuveen Churchill Direct Lending (NYSE:NCDL) from a hold rating to a sell rating in a report published on Saturday morning.

A number of other research analysts also recently issued reports on the stock. Zacks Research raised shares of Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a research report on Friday, January 9th. 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 for the company in a research note on Wednesday, November 5th. Finally, Wells Fargo & Company reduced their price target on Nuveen Churchill Direct Lending from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $15.75.

Nuveen Churchill Direct Lending Price Performance

Shares of NCDL stock opened at $14.11 on Friday. The company has a market cap of $697.04 million, a P/E ratio of 9.22 and a beta of 0.40. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.65 and a quick ratio of 1.65. The stock’s 50-day moving average is $13.77 and its 200 day moving average is $14.48. Nuveen Churchill Direct Lending has a 1-year low of $12.95 and a 1-year high of $18.01.

Insiders Place Their Bets

In related news, Director Kenneth M. Miranda acquired 2,000 shares of the stock in a transaction dated Wednesday, November 19th. The stock was acquired at an average cost of $14.10 per share, for a total transaction of $28,200.00. Following the completion of the purchase, the director owned 27,000 shares of the company’s stock, valued at approximately $380,700. This represents a 8.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.62% of the company’s stock.

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. Atlatl Advisers LLC purchased a new stake in Nuveen Churchill Direct Lending during the 2nd quarter valued at about $173,000. Y Intercept Hong Kong Ltd lifted its holdings in shares of Nuveen Churchill Direct Lending by 100.0% during the second quarter. Y Intercept Hong Kong Ltd now owns 32,820 shares of the company’s stock worth $531,000 after purchasing an additional 16,408 shares during the period. Magnetar Financial LLC purchased a new stake in Nuveen Churchill Direct Lending in the second quarter valued at approximately $773,000. Virtus Investment Advisers LLC boosted its position in Nuveen Churchill Direct Lending by 12.2% in the second quarter. Virtus Investment Advisers LLC now owns 22,453 shares of the company’s stock valued at $364,000 after buying an additional 2,438 shares during the last quarter. Finally, Lido Advisors LLC acquired a new position in Nuveen Churchill Direct Lending in the 2nd quarter worth approximately $349,000.

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.