Nuveen Churchill Direct Lending (NYSE:NCDL) Upgraded by Zacks Research to "Hold" Rating

Key Points

• Zacks Research upgraded Nuveen Churchill Direct Lending from "strong sell" to "hold", while other recent analyst actions were mixed, leaving the stock with an overall Hold consensus and an average price target of $14.44.
• The stock was down 1.1% to $12.51, near its 52-week low of $11.97, and the company reported a recent quarterly EPS of $0.41, narrowly missing estimates; revenue also came in well below expectations.
• Insiders have been buying shares, including purchases by Treasurer Shaul Vichness and CAO Marissa Hassen, even as institutional investors made smaller position changes in the stock.

Nuveen Churchill Direct Lending (NYSE:NCDL - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on NCDL. UBS Group lowered their price target on shares of Nuveen Churchill Direct Lending from $15.50 to $14.75 and set a "neutral" rating for the company in a report on Monday, May 18th. Wall Street Zen lowered shares of Nuveen Churchill Direct Lending from a "hold" rating to a "sell" rating in a report on Saturday, June 6th. Finally, Wells Fargo & Company cut shares of Nuveen Churchill Direct Lending from an "equal weight" rating to an "underweight" rating and decreased their price objective for the company from $13.00 to $12.00 in a research report on Friday, June 12th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $14.44.

Nuveen Churchill Direct Lending Stock Down 1.1%

NYSE NCDL opened at $12.51 on Tuesday. The stock has a market cap of $617.92 million, a PE ratio of 10.43 and a beta of 0.51. Nuveen Churchill Direct Lending has a fifty-two week low of $11.97 and a fifty-two week high of $17.11. The business has a 50 day moving average price of $12.74 and a two-hundred day moving average price of $13.28.

Nuveen Churchill Direct Lending (NYSE:NCDL - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). Nuveen Churchill Direct Lending had a net margin of 29.56% and a return on equity of 9.80%. The firm had revenue of $17.15 million for the quarter, compared to analysts' expectations of $47.79 million. Sell-side analysts anticipate that Nuveen Churchill Direct Lending will post 1.6 EPS for the current fiscal year.

Insider Activity

In related news, Treasurer Shaul Vichness purchased 5,000 shares of the firm's stock in a transaction dated Thursday, May 14th. The stock was acquired at an average price of $13.20 per share, with a total value of $66,000.00. Following the completion of the transaction, the treasurer owned 30,705 shares of the company's stock, valued at $405,306. This represents a 19.45% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Marissa Hassen purchased 3,782 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average cost of $13.21 per share, for a total transaction of $49,960.22. Following the completion of the acquisition, the chief accounting officer directly owned 9,780 shares of the company's stock, valued at $129,193.80. This represents a 63.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders acquired 16,282 shares of company stock worth $215,485. 0.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nuveen Churchill Direct Lending

Several hedge funds and other institutional investors have recently modified their holdings of NCDL. BNP Paribas Financial Markets lifted its position 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 worth $33,000 after purchasing an additional 1,573 shares during the last quarter. Advisory Services Network LLC bought a new stake in Nuveen Churchill Direct Lending in the third quarter valued at about $38,000. NewEdge Advisors LLC increased its holdings in 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 buying an additional 1,118 shares during the last quarter. Quadrant Capital Group LLC acquired a new stake in Nuveen Churchill Direct Lending during the third quarter valued at approximately $80,000. Finally, State of Wyoming acquired a new stake in Nuveen Churchill Direct Lending during the second quarter valued at approximately $108,000.

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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