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

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) was the recipient of a large drop in short interest in December. As of December 15th, there was short interest totaling 377,812 shares, a drop of 29.3% from the November 30th total of 534,367 shares. Based on an average trading volume of 242,377 shares, the days-to-cover ratio is presently 1.6 days. Currently, 0.8% of the company’s stock are short sold. Currently, 0.8% of the company’s stock are short sold. Based on an average trading volume of 242,377 shares, the days-to-cover ratio is presently 1.6 days.

Nuveen Churchill Direct Lending Trading Up 0.3%

Shares of NCDL stock traded up $0.04 during trading hours on Monday, reaching $13.82. 472,479 shares of the stock traded hands, compared to its average volume of 315,984. The firm has a market capitalization of $682.57 million, a PE ratio of 6.96 and a beta of 0.35. The business has a fifty day moving average price of $14.36 and a 200 day moving average price of $15.23. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.25. Nuveen Churchill Direct Lending has a 1-year low of $13.16 and a 1-year high of $18.01.

Nuveen Churchill Direct Lending (NYSE:NCDL) last issued its earnings results on Tuesday, November 4th. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 36.83% and a return on equity of 11.13%. On average, equities research analysts forecast that Nuveen Churchill Direct Lending will post 2.28 EPS for the current year.

Nuveen Churchill Direct Lending Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 27th. Investors of record on Wednesday, December 31st will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 13.0%. The ex-dividend date is Wednesday, December 31st. Nuveen Churchill Direct Lending’s dividend payout ratio (DPR) is presently 117.65%.

Wall Street Analyst Weigh In

NCDL has been the subject of several recent research reports. 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. Wells Fargo & Company lowered 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 report on Wednesday, November 5th. Keefe, Bruyette & Woods reduced their price objective on shares of 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. Zacks Research lowered shares of Nuveen Churchill Direct Lending from a “hold” rating to a “strong sell” rating in a research note on Monday, November 10th. Finally, UBS Group decreased their price objective on Nuveen Churchill Direct Lending from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $15.75.

Insider Activity at Nuveen Churchill Direct Lending

In related news, Director Kenneth M. Miranda acquired 2,000 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was bought at an average price of $14.10 per share, for a total transaction of $28,200.00. Following the completion of the purchase, the director directly owned 27,000 shares of the company’s stock, valued at approximately $380,700. The trade was a 8.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Treasurer Shaul Vichness bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was purchased at an average cost of $14.20 per share, with a total value of $71,000.00. Following the completion of the transaction, the treasurer owned 20,000 shares in the company, valued at approximately $284,000. This trade represents a 33.33% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 27,000 shares of company stock valued at $383,600 over the last ninety days. Insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Nuveen Churchill Direct Lending

Several large investors have recently modified their holdings of the stock. Sunbelt Securities Inc. lifted its position in Nuveen Churchill Direct Lending by 39.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 10,500 shares of the company’s stock valued at $145,000 after acquiring an additional 2,995 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Nuveen Churchill Direct Lending in the 3rd quarter valued at approximately $38,000. Susquehanna International Group LLP bought a new stake in Nuveen Churchill Direct Lending in the 3rd quarter valued at approximately $152,000. Millennium Management LLC boosted its position in Nuveen Churchill Direct Lending by 64.1% during the 3rd quarter. Millennium Management LLC now owns 136,567 shares of the company’s stock worth $1,885,000 after acquiring an additional 53,342 shares during the last quarter. Finally, Lido Advisors LLC grew its stake in shares of Nuveen Churchill Direct Lending by 113.6% during the 3rd quarter. Lido Advisors LLC now owns 44,856 shares of the company’s stock worth $639,000 after acquiring an additional 23,856 shares in the last quarter.

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.