Nuveen Churchill Direct Lending (NYSE:NCDL) Price Target Lowered to $13.00 at Wells Fargo & Company

Nuveen Churchill Direct Lending (NYSE:NCDL) had its price target reduced by investment analysts at Wells Fargo & Company from $14.00 to $13.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential downside of 1.89% from the company’s current price.

A number of other equities research analysts have also commented on the company. Zacks Research upgraded Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a research report on Friday, January 9th. Wall Street Zen downgraded Nuveen Churchill Direct Lending from a “hold” rating to a “sell” rating in a report on Monday. Keefe, Bruyette & Woods decreased their price target on shares of Nuveen Churchill Direct Lending from $16.00 to $15.00 and set a “market perform” rating for the company in a report on Friday, February 27th. Finally, Truist Financial lowered their price objective on shares of Nuveen Churchill Direct Lending from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $15.40.

Nuveen Churchill Direct Lending Trading Up 1.9%

Nuveen Churchill Direct Lending stock traded up $0.25 during midday trading on Wednesday, reaching $13.25. The stock had a trading volume of 69,747 shares, compared to its average volume of 274,505. Nuveen Churchill Direct Lending has a twelve month low of $12.54 and a twelve month high of $17.59. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.85 and a quick ratio of 1.85. The firm has a market cap of $654.42 million, a price-to-earnings ratio of 10.11 and a beta of 0.44. The firm’s fifty day simple moving average is $13.57 and its two-hundred day simple moving average is $14.27.

Nuveen Churchill Direct Lending (NYSE:NCDL) last released its earnings results on Thursday, February 26th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $26.36 million during the quarter, compared to analyst estimates of $49.60 million. Nuveen Churchill Direct Lending had a return on equity of 10.48% and a net margin of 31.57%. Equities analysts anticipate that Nuveen Churchill Direct Lending will post 2.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NCDL. Virtu Financial LLC raised its holdings in shares of Nuveen Churchill Direct Lending by 181.2% during the 4th quarter. Virtu Financial LLC now owns 41,725 shares of the company’s stock valued at $557,000 after purchasing an additional 26,885 shares in the last quarter. Invesco Ltd. raised its holdings in Nuveen Churchill Direct Lending by 2,179.1% during the fourth quarter. Invesco Ltd. now owns 742,296 shares of the company’s stock valued at $9,902,000 after buying an additional 709,727 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Nuveen Churchill Direct Lending by 31.2% in the fourth quarter. NewEdge Advisors LLC now owns 6,073 shares of the company’s stock worth $81,000 after buying an additional 1,443 shares during the last quarter. VARCOV Co. acquired a new stake in shares of Nuveen Churchill Direct Lending in the fourth quarter worth about $371,000. Finally, Almitas Capital LLC bought a new stake in shares of Nuveen Churchill Direct Lending during the 4th quarter worth about $936,000.

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.