Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) Sees Large Drop in Short Interest

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) was the target of a large decline in short interest in January. As of January 15th, there was short interest totaling 471,830 shares, a decline of 38.1% from the December 31st total of 762,848 shares. Approximately 1.0% of the company’s stock are short sold. Based on an average trading volume of 251,900 shares, the days-to-cover ratio is presently 1.9 days. Based on an average trading volume of 251,900 shares, the days-to-cover ratio is presently 1.9 days. Approximately 1.0% of the company’s stock are short sold.

Insider Activity at Nuveen Churchill Direct Lending

In related news, Director Kenneth M. Miranda bought 2,000 shares of Nuveen Churchill Direct Lending stock in a transaction that occurred on Wednesday, November 19th. The stock was purchased at an average cost of $14.10 per share, with a total value of $28,200.00. Following the purchase, the director owned 27,000 shares in the company, valued at approximately $380,700. This trade represents a 8.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kenneth J. Kencel purchased 20,000 shares of the company’s stock in a transaction on Thursday, November 6th. The stock was purchased at an average cost of $14.22 per share, for a total transaction 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 27,000 shares of company stock valued at $383,600. 0.62% of the stock is owned by corporate insiders.

Institutional Trading of Nuveen Churchill Direct Lending

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tranquility Partners LLC grew its position in shares of Nuveen Churchill Direct Lending by 15.8% during the 2nd quarter. Tranquility Partners LLC now owns 84,333 shares of the company’s stock worth $1,365,000 after purchasing an additional 11,510 shares in the last quarter. Atlatl Advisers LLC bought a new stake in shares of Nuveen Churchill Direct Lending in the second quarter valued at approximately $173,000. Y Intercept Hong Kong Ltd grew its position in Nuveen Churchill Direct Lending by 100.0% during the second quarter. Y Intercept Hong Kong Ltd now owns 32,820 shares of the company’s stock worth $531,000 after buying an additional 16,408 shares in the last quarter. Magnetar Financial LLC bought a new position in Nuveen Churchill Direct Lending during the 2nd quarter worth $773,000. Finally, Virtus Investment Advisers LLC increased its stake in Nuveen Churchill Direct Lending by 12.2% during the 2nd quarter. Virtus Investment Advisers LLC now owns 22,453 shares of the company’s stock worth $364,000 after acquiring an additional 2,438 shares during the period.

Nuveen Churchill Direct Lending Stock Performance

NYSE:NCDL opened at $13.42 on Friday. The stock has a 50 day simple moving average of $13.99 and a 200 day simple moving average of $14.77. The stock has a market cap of $662.62 million, a P/E ratio of 8.77 and a beta of 0.40. Nuveen Churchill Direct Lending has a 1-year low of $13.03 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.

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods lowered their target price on Nuveen Churchill Direct Lending from $17.00 to $16.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 5th. UBS Group lowered their price target on Nuveen Churchill Direct Lending from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Zacks Research upgraded Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a research note on Friday, January 9th. Wells Fargo & Company reduced 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 report on Wednesday, November 5th. Finally, Wall Street Zen upgraded Nuveen Churchill Direct Lending from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th. One 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 company currently has a consensus rating of “Hold” and a consensus 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.