Short Interest in Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) Drops By 29.3%

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) was the target of a significant drop in short interest in December. As of December 15th, there was short interest totaling 377,812 shares, a drop of 29.3% from the November 30th total of 534,367 shares. Based on an average trading volume of 242,377 shares, the short-interest ratio is presently 1.6 days. Currently, 0.8% of the company’s stock are short sold. Currently, 0.8% of the company’s stock are short sold. Based on an average trading volume of 242,377 shares, the short-interest ratio is presently 1.6 days.

Insider Buying and Selling

In other news, Treasurer Shaul Vichness bought 5,000 shares of the stock in a transaction on Monday, November 17th. The shares were purchased at an average price of $14.20 per share, for a total transaction of $71,000.00. Following the completion of the purchase, the treasurer directly owned 20,000 shares of the company’s stock, valued at $284,000. This trade represents a 33.33% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth M. Miranda purchased 2,000 shares of Nuveen Churchill Direct Lending stock in a transaction dated Wednesday, November 19th. The shares were purchased at an average price of $14.10 per share, with a total value of $28,200.00. Following the completion of the acquisition, the director owned 27,000 shares in the company, valued at $380,700. The trade was a 8.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders bought 27,000 shares of company stock worth $383,600. Corporate insiders own 0.62% of the company’s stock.

Hedge Funds Weigh In On Nuveen Churchill Direct Lending

Several large investors have recently added to or reduced their stakes in NCDL. Sunbelt Securities Inc. grew its holdings in shares of Nuveen Churchill Direct Lending by 39.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 10,500 shares of the company’s stock worth $145,000 after purchasing an additional 2,995 shares in the last quarter. Advisory Services Network LLC bought a new position in Nuveen Churchill Direct Lending in the third quarter worth $38,000. Susquehanna International Group LLP acquired a new stake in Nuveen Churchill Direct Lending during the third quarter worth $152,000. Millennium Management LLC increased its holdings in Nuveen Churchill Direct Lending by 64.1% in the 3rd quarter. Millennium Management LLC now owns 136,567 shares of the company’s stock valued at $1,885,000 after buying an additional 53,342 shares during the period. Finally, Lido Advisors LLC raised its stake in shares of Nuveen Churchill Direct Lending by 113.6% in the 3rd quarter. Lido Advisors LLC now owns 44,856 shares of the company’s stock valued at $639,000 after buying an additional 23,856 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages have issued reports on NCDL. Zacks Research cut Nuveen Churchill Direct Lending from a “hold” rating to a “strong sell” rating in a research report on Monday, November 10th. Wall Street Zen upgraded shares of Nuveen Churchill Direct Lending from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th. Wells Fargo & Company lowered 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 research note on Wednesday, November 5th. Keefe, Bruyette & Woods dropped their target price on shares of Nuveen Churchill Direct Lending from $17.00 to $16.00 and set a “market perform” rating on the stock in a report on Wednesday, November 5th. Finally, UBS Group decreased their price target on shares of Nuveen Churchill Direct Lending from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $15.75.

Nuveen Churchill Direct Lending Stock Performance

Shares of Nuveen Churchill Direct Lending stock traded down $0.51 during midday trading on Wednesday, hitting $13.32. The company had a trading volume of 655,441 shares, compared to its average volume of 250,061. Nuveen Churchill Direct Lending has a 1-year low of $13.16 and a 1-year high of $18.01. The business’s 50 day simple moving average is $14.36 and its two-hundred day simple moving average is $15.22. The stock has a market cap of $657.87 million, a PE ratio of 8.71 and a beta of 0.35. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.65 and a quick ratio of 1.65.

Nuveen Churchill Direct Lending (NYSE:NCDL) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). The company had revenue of $51.11 million during the quarter, compared to the consensus estimate of $52.00 million. Nuveen Churchill Direct Lending had a net margin of 36.83% and a return on equity of 11.13%. As a group, equities analysts predict that Nuveen Churchill Direct Lending will post 2.28 EPS for the current fiscal year.

Nuveen Churchill Direct Lending Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 27th. Investors of record on Wednesday, December 31st will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 13.5%. The ex-dividend date is Wednesday, December 31st. Nuveen Churchill Direct Lending’s dividend payout ratio (DPR) is presently 117.65%.

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.