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

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NCDL shares. UBS Group decreased their price objective on Nuveen Churchill Direct Lending from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Keefe, Bruyette & Woods decreased their price target on Nuveen Churchill Direct Lending from $17.00 to $16.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 5th. Wells Fargo & Company dropped their price objective on shares of Nuveen Churchill Direct Lending from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Zacks Research lowered shares of Nuveen Churchill Direct Lending from a “hold” rating to a “strong sell” rating in a report on Monday, November 10th. Finally, Wall Street Zen upgraded shares of Nuveen Churchill Direct Lending from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Nuveen Churchill Direct Lending currently has a consensus rating of “Hold” and a consensus target price of $15.75.

Nuveen Churchill Direct Lending Trading Down 3.7%

Shares of NYSE:NCDL traded down $0.51 during trading on Wednesday, reaching $13.32. 655,441 shares of the stock were exchanged, compared to its average volume of 250,061. Nuveen Churchill Direct Lending has a 12-month low of $13.16 and a 12-month high of $18.01. The firm’s 50-day moving average price is $14.34 and its 200 day moving average price is $15.20. 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 firm has a market cap of $657.87 million, a price-to-earnings ratio of 8.71 and a beta of 0.35.

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

Nuveen Churchill Direct Lending Announces Dividend

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

Insider Activity

In other Nuveen Churchill Direct Lending news, CEO Kenneth J. Kencel acquired 20,000 shares of the company’s stock in a transaction dated Thursday, November 6th. The stock was acquired at an average cost of $14.22 per share, with a total value of $284,400.00. Following the purchase, the chief executive officer directly owned 48,117 shares in the company, valued at approximately $684,223.74. This trade represents a 71.13% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Kenneth M. Miranda bought 2,000 shares of the stock in a transaction on Wednesday, November 19th. The shares were bought at an average price of $14.10 per share, for a total transaction of $28,200.00. Following the acquisition, the director owned 27,000 shares in the company, valued at $380,700. The trade was a 8.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 27,000 shares of company stock worth $383,600 over the last ninety days. 0.62% of the stock is currently owned by insiders.

Institutional Trading of Nuveen Churchill Direct Lending

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