Nuveen Churchill Direct Lending (NYSE:NCDL) Trading Down 4.1% – What’s Next?

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL)’s stock price fell 4.1% on Friday . The stock traded as low as $13.54 and last traded at $13.4710. 2,542 shares changed hands during trading, a decline of 99% from the average session volume of 248,779 shares. The stock had previously closed at $14.05.

Analyst Ratings Changes

Several analysts have commented on NCDL shares. Wells Fargo & Company dropped their target price on shares of Nuveen Churchill Direct Lending from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Zacks Research upgraded shares of Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a report on Friday, January 9th. Keefe, Bruyette & Woods reduced their target price on shares of 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, Wall Street Zen raised Nuveen Churchill Direct Lending from a “sell” rating to a “hold” rating in a research note on Sunday. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Nuveen Churchill Direct Lending has a consensus rating of “Hold” and a consensus target price of $15.75.

Nuveen Churchill Direct Lending Stock Performance

The stock’s 50-day moving average price is $13.71 and its 200 day moving average price is $14.43. The firm has a market cap of $682.82 million, a P/E ratio of 9.04 and a beta of 0.40. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.65 and a quick ratio of 1.65.

Hedge Funds Weigh In On Nuveen Churchill Direct Lending

A number of large investors have recently modified their holdings of the business. BNP Paribas Financial Markets increased its position in shares of Nuveen Churchill Direct Lending by 190.2% in the third quarter. BNP Paribas Financial Markets now owns 2,400 shares of the company’s stock valued at $33,000 after acquiring an additional 1,573 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of Nuveen Churchill Direct Lending during the 3rd quarter worth approximately $38,000. NewEdge Advisors LLC raised its stake in shares of Nuveen Churchill Direct Lending by 33.0% during the 2nd quarter. NewEdge Advisors LLC now owns 4,511 shares of the company’s stock worth $73,000 after purchasing an additional 1,118 shares in the last quarter. Quadrant Capital Group LLC acquired a new stake in shares of Nuveen Churchill Direct Lending in the 3rd quarter valued at approximately $80,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of Nuveen Churchill Direct Lending in the 3rd quarter valued at approximately $85,000.

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.