Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) Sees Significant Increase in Short Interest

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) was the recipient of a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 1,022,863 shares, an increase of 76.1% from the June 15th total of 580,918 shares. Based on an average trading volume of 290,143 shares, the short-interest ratio is currently 3.5 days. Currently, 2.1% of the company’s shares are sold short.

Analyst Ratings Changes

NCDL has been the topic of a number of research reports. Zacks Research lowered shares of Nuveen Churchill Direct Lending from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 26th. Wells Fargo & Company lowered shares of Nuveen Churchill Direct Lending from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $13.00 to $12.00 in a report on Friday, June 12th. Wall Street Zen cut shares of Nuveen Churchill Direct Lending from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, UBS Group reduced their target price on shares of Nuveen Churchill Direct Lending from $15.50 to $14.75 and set a “neutral” rating for the company in a research note on Monday, May 18th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $14.44.

Insider Buying and Selling at Nuveen Churchill Direct Lending

In other Nuveen Churchill Direct Lending news, Treasurer Shaul Vichness acquired 5,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of $13.20 per share, for a total transaction of $66,000.00. Following the acquisition, the treasurer directly owned 30,705 shares of the company’s stock, valued at approximately $405,306. This trade represents a 19.45% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP John Mccally acquired 7,500 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average price of $13.27 per share, with a total value of $99,525.00. Following the completion of the transaction, the vice president directly owned 15,245 shares in the company, valued at $202,301.15. This trade represents a 96.84% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 16,282 shares of company stock valued at $215,485. Company insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Nuveen Churchill Direct Lending

Hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its holdings in 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 acquiring an additional 1,573 shares in the last quarter. Advisory Services Network LLC bought a new position in Nuveen Churchill Direct Lending in the third quarter valued at approximately $38,000. NewEdge Advisors LLC grew its stake in Nuveen Churchill Direct Lending by 33.0% in the second quarter. NewEdge Advisors LLC now owns 4,511 shares of the company’s stock valued at $73,000 after purchasing an additional 1,118 shares in the last quarter. Quadrant Capital Group LLC acquired a new position in shares of Nuveen Churchill Direct Lending during the 3rd quarter worth approximately $80,000. Finally, State of Wyoming acquired a new position in shares of Nuveen Churchill Direct Lending during the 2nd quarter worth approximately $108,000.

Nuveen Churchill Direct Lending Price Performance

NYSE:NCDL traded down $0.31 during trading hours on Friday, reaching $12.68. 146,702 shares of the stock were exchanged, compared to its average volume of 167,877. Nuveen Churchill Direct Lending has a twelve month low of $11.97 and a twelve month high of $17.25. The firm has a 50 day moving average of $12.78 and a 200 day moving average of $13.30. The stock has a market cap of $626.28 million, a PE ratio of 10.57 and a beta of 0.51.

Nuveen Churchill Direct Lending (NYSE:NCDL) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The business had revenue of $17.15 million during the quarter, compared to analyst estimates of $47.79 million. Nuveen Churchill Direct Lending had a net margin of 29.56% and a return on equity of 9.80%. Equities research analysts anticipate that Nuveen Churchill Direct Lending will post 1.6 earnings per share for the current year.

Nuveen Churchill Direct Lending Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, June 30th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 11.4%. The ex-dividend date is Tuesday, June 30th. Nuveen Churchill Direct Lending’s payout ratio is presently 120.00%.

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.