MQS Management LLC Acquires New Shares in Nuveen Churchill Direct Lending Corp. $NCDL

MQS Management LLC bought a new stake in shares of Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) during the third quarter, Holdings Channel.com reports. The fund bought 43,734 shares of the company’s stock, valued at approximately $604,000.

Several other institutional investors have also recently made changes to their positions in NCDL. NewEdge Advisors LLC boosted its holdings in shares of 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 acquiring an additional 1,118 shares during the period. Global Retirement Partners LLC purchased a new stake in Nuveen Churchill Direct Lending during the 3rd quarter worth about $85,000. State of Wyoming bought a new position in Nuveen Churchill Direct Lending in the 2nd quarter worth about $108,000. Quantbot Technologies LP bought a new position in Nuveen Churchill Direct Lending in the 2nd quarter worth about $152,000. Finally, AlphaQuest LLC purchased a new position in Nuveen Churchill Direct Lending during the 3rd quarter valued at about $135,000.

Insider Buying and Selling

In related news, Director Kenneth M. Miranda purchased 2,000 shares of the firm’s 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 acquisition, the director directly owned 27,000 shares of the company’s stock, valued at approximately $380,700. This represents a 8.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Treasurer Shaul Vichness acquired 5,000 shares of the stock in a transaction dated Monday, November 17th. The shares were bought at an average price of $14.20 per share, for a total transaction of $71,000.00. Following the transaction, the treasurer owned 20,000 shares in the company, valued at approximately $284,000. This represents a 33.33% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.62% of the stock is owned by insiders.

Nuveen Churchill Direct Lending Stock Up 1.5%

NCDL stock opened at $14.07 on Wednesday. The company’s 50 day moving average is $13.83 and its 200 day moving average is $14.55. The stock has a market cap of $694.92 million, a price-to-earnings ratio of 9.20 and a beta of 0.40. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.25. Nuveen Churchill Direct Lending Corp. has a 1-year low of $12.95 and a 1-year high of $18.01.

Analyst Ratings Changes

NCDL has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Nuveen Churchill Direct Lending from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. Keefe, Bruyette & Woods decreased 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. UBS Group lowered their target price on shares of Nuveen Churchill Direct Lending from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Zacks Research upgraded shares of Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a research report on Friday, January 9th. Finally, Wells Fargo & Company decreased their price target 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. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.75.

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.