Royal Bank Of Canada Lowers Morgan Stanley Direct Lending Fund (NYSE:MSDL) Price Target to $19.00

Key Points

• Royal Bank of Canada has reduced its price target for the Morgan Stanley Direct Lending Fund from $21.00 to $19.00, indicating a potential increase of 6.20% from its current price.
• Other brokerages have varied opinions, with UBS raising their target to $21.00 and Wells Fargo lowering it to $17.00, while Zacks downgraded the stock to a "strong sell."
• Insider trading activity includes significant stock purchases by directors, with a total acquisition of 57,907 shares valued at over $1 million in the last quarter.

Morgan Stanley Direct Lending Fund (NYSE:MSDL - Get Free Report) had its price objective cut by stock analysts at Royal Bank Of Canada from $21.00 to $19.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price target would indicate a potential upside of 6.20% from the company's current price.

A number of other brokerages also recently weighed in on MSDL. UBS Group boosted their price target on Morgan Stanley Direct Lending Fund from $20.50 to $21.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Wells Fargo & Company lowered their price target on Morgan Stanley Direct Lending Fund from $19.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 14th. Finally, Zacks Research downgraded Morgan Stanley Direct Lending Fund from a "hold" rating to a "strong sell" rating in a research report on Friday, August 22nd. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $19.30.

Morgan Stanley Direct Lending Fund Trading Down 0.2%

MSDL stock traded down $0.03 during midday trading on Wednesday, hitting $17.89. 47,120 shares of the company's stock were exchanged, compared to its average volume of 580,548. The stock's fifty day moving average price is $18.54 and its 200-day moving average price is $19.24. Morgan Stanley Direct Lending Fund has a one year low of $17.37 and a one year high of $21.75. The company has a market cap of $1.55 billion, a PE ratio of 9.27 and a beta of 0.33. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.19 and a current ratio of 1.19.

Morgan Stanley Direct Lending Fund (NYSE:MSDL - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.02). Morgan Stanley Direct Lending Fund had a net margin of 42.65% and a return on equity of 11.24%. The firm had revenue of $99.51 million during the quarter, compared to analyst estimates of $99.99 million. Research analysts predict that Morgan Stanley Direct Lending Fund will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Morgan Stanley Direct Lending Fund

In related news, Director Joan Binstock acquired 5,659 shares of the firm's stock in a transaction on Monday, August 11th. The stock was purchased at an average cost of $17.68 per share, with a total value of $100,051.12. Following the acquisition, the director owned 39,251 shares of the company's stock, valued at approximately $693,957.68. This trade represents a 16.85% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Adam S. Metz acquired 28,248 shares of the firm's stock in a transaction on Wednesday, August 13th. The shares were bought at an average cost of $17.67 per share, with a total value of $499,142.16. Following the completion of the acquisition, the director directly owned 28,248 shares in the company, valued at approximately $499,142.16. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 57,907 shares of company stock valued at $1,025,013. 0.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Morgan Stanley Direct Lending Fund

Institutional investors have recently modified their holdings of the business. Ameritas Advisory Services LLC bought a new position in shares of Morgan Stanley Direct Lending Fund in the second quarter valued at approximately $41,000. Allworth Financial LP grew its holdings in Morgan Stanley Direct Lending Fund by 62.3% during the second quarter. Allworth Financial LP now owns 2,606 shares of the company's stock valued at $49,000 after purchasing an additional 1,000 shares during the period. Comerica Bank grew its holdings in Morgan Stanley Direct Lending Fund by 100.0% during the fourth quarter. Comerica Bank now owns 2,568 shares of the company's stock valued at $53,000 after purchasing an additional 1,284 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in Morgan Stanley Direct Lending Fund by 225.0% during the second quarter. Steward Partners Investment Advisory LLC now owns 3,250 shares of the company's stock valued at $61,000 after purchasing an additional 2,250 shares during the period. Finally, AdvisorNet Financial Inc bought a new position in Morgan Stanley Direct Lending Fund during the first quarter valued at $66,000.

About Morgan Stanley Direct Lending Fund

Morgan Stanley Direct Lending Fund is a business development company. It is a non-diversified, externally managed specialty finance company focused on lending to middle-market companies. Morgan Stanley Direct Lending Fund is based in NEW YORK.

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