Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) Short Interest Update

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) was the recipient of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 720,773 shares, a growth of 19.1% from the February 26th total of 605,150 shares. Based on an average daily volume of 245,368 shares, the days-to-cover ratio is currently 2.9 days. Currently, 1.5% of the company’s stock are short sold.

Nuveen Churchill Direct Lending Stock Performance

Shares of Nuveen Churchill Direct Lending stock traded down $0.17 during trading hours on Tuesday, reaching $12.73. 345,985 shares of the stock traded hands, compared to its average volume of 241,033. Nuveen Churchill Direct Lending has a one year low of $12.50 and a one year high of $17.27. The firm has a market capitalization of $628.73 million, a price-to-earnings ratio of 9.72 and a beta of 0.44. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.27. The company has a 50 day moving average price of $13.42 and a 200 day moving average price of $13.90.

Nuveen Churchill Direct Lending (NYSE:NCDL) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The firm had revenue of $26.36 million for the quarter, compared to analysts’ expectations of $49.60 million. Nuveen Churchill Direct Lending had a net margin of 31.57% and a return on equity of 10.48%. On average, equities research analysts expect that Nuveen Churchill Direct Lending will post 2.28 earnings per share for the current fiscal year.

Nuveen Churchill Direct Lending Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, March 31st will be given a $0.36 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.44 annualized dividend and a yield of 11.3%. Nuveen Churchill Direct Lending’s dividend payout ratio (DPR) is presently 137.40%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Nuveen Churchill Direct Lending from a “sell” rating to a “hold” rating in a report on Tuesday, March 10th. 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. Truist Financial cut their target price on shares of Nuveen Churchill Direct Lending from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Keefe, Bruyette & Woods decreased their target price on shares of Nuveen Churchill Direct Lending from $16.00 to $15.00 and set a “market perform” rating for the company in a research note on Friday, February 27th. Finally, Wells Fargo & Company lowered their price target on Nuveen Churchill Direct Lending from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 4th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.40.

Insider Transactions at Nuveen Churchill Direct Lending

In other Nuveen Churchill Direct Lending news, Treasurer Shaul Vichness bought 5,000 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was acquired at an average price of $13.13 per share, with a total value of $65,650.00. Following the transaction, the treasurer owned 25,000 shares in the company, valued at $328,250. This represents a 25.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James Joseph Ritchie bought 17,857 shares of the stock in a transaction on Tuesday, March 10th. The shares were bought at an average price of $13.71 per share, for a total transaction of $244,819.47. Following the purchase, the director directly owned 78,193 shares in the company, valued at approximately $1,072,026.03. This trade represents a 29.60% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have bought 47,547 shares of company stock valued at $635,105. Insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Nuveen Churchill Direct Lending

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its holdings in Nuveen Churchill Direct Lending by 190.2% in the 3rd 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 period. Advisory Services Network LLC bought a new stake in Nuveen Churchill Direct Lending during the third quarter valued at about $38,000. NewEdge Advisors LLC increased its position 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 worth $73,000 after buying an additional 1,118 shares in the last quarter. Quadrant Capital Group LLC purchased a new stake in Nuveen Churchill Direct Lending in the third quarter worth about $80,000. Finally, Global Retirement Partners LLC bought a new position in shares of Nuveen Churchill Direct Lending in the third quarter worth about $85,000.

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.