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

Nuveen Churchill Direct Lending (NYSE:NCDL - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

Other equities research analysts also recently issued reports about the company. Zacks Research upgraded Nuveen Churchill Direct Lending from a "strong sell" rating to a "hold" rating in a research report on Friday, January 9th. UBS Group upped their price objective on Nuveen Churchill Direct Lending from $14.75 to $15.50 and gave the company a "neutral" rating in a research report on Monday, April 20th. Keefe, Bruyette & Woods decreased their price objective on Nuveen Churchill Direct Lending from $16.00 to $15.00 and set a "market perform" rating on the stock in a research report on Friday, February 27th. Truist Financial decreased their price objective on Nuveen Churchill Direct Lending from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Wednesday, March 4th. Finally, Wells Fargo & Company decreased their price objective on Nuveen Churchill Direct Lending from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 4th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Nuveen Churchill Direct Lending currently has an average rating of "Hold" and a consensus target price of $15.50.

Nuveen Churchill Direct Lending Price Performance

NYSE:NCDL opened at $13.63 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $672.94 million, a P/E ratio of 11.35 and a beta of 0.63. Nuveen Churchill Direct Lending has a 12 month low of $12.43 and a 12 month high of $17.27. The business's 50-day moving average is $13.55 and its 200 day moving average is $13.85.

Nuveen Churchill Direct Lending (NYSE:NCDL - Get Free Report) last posted its 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 firm 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 9.75% and a net margin of 29.56%. On average, equities research analysts forecast that Nuveen Churchill Direct Lending will post 1.66 earnings per share for the current fiscal year.

Insider Activity

In other Nuveen Churchill Direct Lending news, insider Jason Strife bought 7,690 shares of the business's stock in a transaction dated Wednesday, March 4th. The shares were purchased at an average price of $13.40 per share, with a total value of $103,046.00. Following the completion of the purchase, the insider owned 15,737 shares in the company, valued at $210,875.80. This represents a 95.56% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Treasurer Shaul Vichness bought 5,000 shares of the business's stock in a transaction dated Thursday, March 12th. The shares were acquired at an average cost of $13.13 per share, for a total transaction of $65,650.00. Following the purchase, the treasurer owned 25,000 shares of the company's stock, valued at approximately $328,250. The trade was a 25.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 47,547 shares of company stock valued at $635,105. 0.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NCDL. BNP Paribas Financial Markets grew its stake in shares of 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 shares of Nuveen Churchill Direct Lending during the third quarter valued at approximately $38,000. NewEdge Advisors LLC grew its stake in shares of 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 shares of Nuveen Churchill Direct Lending during the third quarter valued at approximately $80,000. Finally, Global Retirement Partners LLC bought a new position in shares of Nuveen Churchill Direct Lending during the third quarter valued at approximately $85,000.

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.

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