Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) Given Average Recommendation of “Hold” by Brokerages

Shares of Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) have received an average rating of “Hold” from the five brokerages that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $15.75.

A number of brokerages recently weighed in on NCDL. 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 for the company in a research note on Wednesday, November 5th. Keefe, Bruyette & Woods decreased their price target on Nuveen Churchill Direct Lending from $17.00 to $16.00 and set a “market perform” rating for the company in a report on Wednesday, November 5th. Wall Street Zen lowered Nuveen Churchill Direct Lending from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Finally, Zacks Research raised Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a research note on Friday, January 9th.

Hedge Funds Weigh In On Nuveen Churchill Direct Lending

Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets grew its position in shares of Nuveen Churchill Direct Lending by 190.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,400 shares of the company’s stock worth $33,000 after buying an additional 1,573 shares during the period. Advisory Services Network LLC acquired a new position in shares of Nuveen Churchill Direct Lending during the 3rd quarter valued at $38,000. NewEdge Advisors LLC boosted its stake in Nuveen Churchill Direct Lending by 33.0% during 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 in the last quarter. Quadrant Capital Group LLC bought a new position in Nuveen Churchill Direct Lending during the third quarter worth $80,000. Finally, Global Retirement Partners LLC acquired a new stake in Nuveen Churchill Direct Lending in the third quarter worth $85,000.

Nuveen Churchill Direct Lending Stock Down 2.5%

Shares of NYSE NCDL opened at $13.70 on Friday. The company has a market capitalization of $676.64 million, a P/E ratio of 8.95 and a beta of 0.40. Nuveen Churchill Direct Lending has a 52-week low of $12.95 and a 52-week high of $18.01. 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 company’s 50 day moving average price is $13.72 and its 200-day moving average price is $14.46.

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.