Nuveen Churchill Direct Lending (NYSE:NCDL - Get Free Report) had its target price decreased by JMP Securities from $18.50 to $18.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a "market outperform" rating on the stock. JMP Securities' target price would indicate a potential upside of 9.94% from the company's current price.
Several other brokerages have also weighed in on NCDL. UBS Group reduced their price objective on Nuveen Churchill Direct Lending from $18.00 to $16.25 and set a "neutral" rating for the company in a report on Thursday, April 17th. Keefe, Bruyette & Woods cut their price target on Nuveen Churchill Direct Lending from $18.00 to $17.00 and set a "market perform" rating for the company in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company lowered their price objective 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 Tuesday, May 13th.
View Our Latest Stock Report on NCDL
Nuveen Churchill Direct Lending Stock Performance
Shares of NYSE:NCDL traded up $0.19 during midday trading on Tuesday, reaching $16.37. The company had a trading volume of 183,439 shares, compared to its average volume of 197,468. The stock has a market cap of $823.18 million, a P/E ratio of 8.76 and a beta of 0.47. The company's 50 day moving average price is $15.84 and its 200 day moving average price is $16.54. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 1.30. Nuveen Churchill Direct Lending has a 52-week low of $14.21 and a 52-week high of $18.01.
Nuveen Churchill Direct Lending (NYSE:NCDL - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.53 earnings per share for the quarter, missing analysts' consensus estimates of $0.57 by ($0.04). Nuveen Churchill Direct Lending had a net margin of 44.83% and a return on equity of 12.42%. The company had revenue of $53.59 million during the quarter, compared to analysts' expectations of $56.01 million. As a group, sell-side analysts anticipate that Nuveen Churchill Direct Lending will post 2.28 EPS for the current fiscal year.
Insider Activity
In related news, Director Mat Linett acquired 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were bought at an average cost of $15.92 per share, for a total transaction of $47,760.00. Following the completion of the transaction, the director now owns 8,365 shares in the company, valued at approximately $133,170.80. This trade represents a 55.92% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Treasurer Shaul Vichness bought 5,000 shares of the company's stock in a transaction on Monday, June 16th. The shares were bought at an average price of $16.30 per share, with a total value of $81,500.00. Following the completion of the transaction, the treasurer now owns 10,000 shares of the company's stock, valued at $163,000. The trade was a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 27,337 shares of company stock worth $426,945. 0.62% of the stock is owned by company insiders.
Hedge Funds Weigh In On Nuveen Churchill Direct Lending
A number of institutional investors have recently made changes to their positions in the stock. GraniteShares Advisors LLC purchased a new position in Nuveen Churchill Direct Lending in the fourth quarter worth $2,469,000. Modera Wealth Management LLC purchased a new position in shares of Nuveen Churchill Direct Lending in the 4th quarter worth about $275,000. Bellevue Asset Management LLC bought a new position in shares of Nuveen Churchill Direct Lending during the 4th quarter valued at about $28,000. Farther Finance Advisors LLC raised its holdings in shares of Nuveen Churchill Direct Lending by 72.2% during the 4th quarter. Farther Finance Advisors LLC now owns 5,512 shares of the company's stock valued at $92,000 after buying an additional 2,311 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Nuveen Churchill Direct Lending by 98.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 24,880 shares of the company's stock valued at $417,000 after buying an additional 12,333 shares in the last quarter.
About Nuveen Churchill Direct Lending
(
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Nuveen Churchill Direct Lending Corp. is a specialty finance company focused primarily on investing in senior secured loans to private equity-owned U.S. middle market companies. It has elected to be regulated as a business development company. Nuveen Churchill Direct Lending Corp. is based in NEW YORK.
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