Nuveen Churchill Direct Lending (NYSE:NCDL) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Nuveen Churchill Direct Lending (NYSE:NCDL) from a sell rating to a hold rating in a research note issued to investors on Sunday.

Several other brokerages have also recently weighed in on NCDL. Zacks Research upgraded shares of Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a research note on Friday, January 9th. Keefe, Bruyette & Woods lowered 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, Wells Fargo & Company cut their price target on 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. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $15.75.

Nuveen Churchill Direct Lending Stock Performance

NYSE:NCDL opened at $13.83 on Friday. The stock has a 50 day simple moving average of $13.71 and a 200 day simple moving average of $14.42. The stock has a market cap of $682.82 million, a P/E ratio of 9.04 and a beta of 0.40. Nuveen Churchill Direct Lending has a 1-year low of $12.95 and a 1-year high of $18.01. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.25.

Institutional Trading of Nuveen Churchill Direct Lending

A number of hedge funds have recently added to or reduced their stakes in NCDL. BNP Paribas Financial Markets increased its holdings in shares of Nuveen Churchill Direct Lending by 190.2% during the third 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 in the last quarter. Advisory Services Network LLC bought a new stake in Nuveen Churchill Direct Lending during the 3rd quarter worth $38,000. NewEdge Advisors LLC increased its holdings in Nuveen Churchill Direct Lending by 33.0% in the 2nd quarter. NewEdge Advisors LLC now owns 4,511 shares of the company’s stock worth $73,000 after purchasing an additional 1,118 shares in the last quarter. Quadrant Capital Group LLC bought a new position in Nuveen Churchill Direct Lending in the third quarter valued at about $80,000. Finally, Global Retirement Partners LLC bought a new position in Nuveen Churchill Direct Lending in the third quarter valued at 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.