Short Interest in Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) Expands By 101.9%

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totaling 762,848 shares, an increase of 101.9% from the December 15th total of 377,812 shares. Approximately 1.6% of the shares of the stock are short sold. Based on an average daily volume of 486,081 shares, the days-to-cover ratio is presently 1.6 days. Based on an average daily volume of 486,081 shares, the days-to-cover ratio is presently 1.6 days. Approximately 1.6% of the shares of the stock are short sold.

Insider Buying and Selling

In other news, Director Kenneth M. Miranda acquired 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was acquired at an average price of $14.10 per share, with a total value of $28,200.00. Following the completion of the transaction, the director directly owned 27,000 shares of the company’s stock, valued at $380,700. This trade represents a 8.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kenneth J. Kencel bought 20,000 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was purchased at an average cost of $14.22 per share, for a total transaction of $284,400.00. Following the completion of the acquisition, the chief executive officer owned 48,117 shares in the company, valued at approximately $684,223.74. This trade represents a 71.13% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 27,000 shares of company stock valued at $383,600 over the last quarter. 0.62% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nuveen Churchill Direct Lending

Several institutional investors and hedge funds have recently made changes to their positions in NCDL. Callodine Capital Management LP increased its holdings in Nuveen Churchill Direct Lending by 9.1% in the third quarter. Callodine Capital Management LP now owns 572,800 shares of the company’s stock worth $7,905,000 after purchasing an additional 47,800 shares in the last quarter. Opal Wealth Advisors LLC grew its position in shares of Nuveen Churchill Direct Lending by 5.4% during the 3rd quarter. Opal Wealth Advisors LLC now owns 525,520 shares of the company’s stock worth $7,252,000 after buying an additional 26,865 shares during the period. UBS Group AG increased its stake in shares of Nuveen Churchill Direct Lending by 10.8% in the 3rd quarter. UBS Group AG now owns 492,094 shares of the company’s stock valued at $6,791,000 after acquiring an additional 48,157 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Nuveen Churchill Direct Lending by 14.5% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 479,357 shares of the company’s stock valued at $6,395,000 after acquiring an additional 60,786 shares during the period. Finally, GraniteShares Advisors LLC boosted its stake in Nuveen Churchill Direct Lending by 9.7% during the third quarter. GraniteShares Advisors LLC now owns 183,217 shares of the company’s stock worth $2,528,000 after acquiring an additional 16,133 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NCDL. UBS Group cut their target price on Nuveen Churchill Direct Lending from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Wells Fargo & Company dropped their price objective on Nuveen Churchill Direct Lending from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Wall Street Zen upgraded Nuveen Churchill Direct Lending from a “sell” rating to a “hold” rating in a research report on Saturday, December 20th. Keefe, Bruyette & Woods lowered their target price on 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, Zacks Research raised shares of Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a report on Friday, January 9th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $15.75.

Nuveen Churchill Direct Lending Stock Up 1.7%

Shares of NYSE NCDL opened at $13.67 on Thursday. The company has a market capitalization of $674.87 million, a P/E ratio of 8.93 and a beta of 0.40. Nuveen Churchill Direct Lending has a 52-week low of $13.03 and a 52-week high of $18.01. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.65 and a current ratio of 1.65. The company’s 50 day moving average price is $14.15 and its 200-day moving average price is $15.00.

Nuveen Churchill Direct Lending (NYSE:NCDL) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.03). Nuveen Churchill Direct Lending had a return on equity of 11.13% and a net margin of 36.83%.The firm had revenue of $51.11 million for the quarter, compared to analyst estimates of $52.00 million. Equities analysts forecast that Nuveen Churchill Direct Lending will post 2.28 earnings per share for the current year.

Nuveen Churchill Direct Lending Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 27th. Stockholders of record on Wednesday, December 31st will be given a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.80 annualized dividend and a dividend yield of 13.2%. Nuveen Churchill Direct Lending’s dividend payout ratio (DPR) is 117.65%.

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.