Nuveen Churchill Direct Lending (NYSE:NCDL) Sees Strong Trading Volume – Here’s Why

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) shares saw unusually-strong trading volume on Monday . Approximately 101,050 shares traded hands during trading, an increase of 55% from the previous session’s volume of 65,259 shares.The stock last traded at $16.89 and had previously closed at $16.88.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company reduced their price objective on Nuveen Churchill Direct Lending from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Monday, August 12th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Nuveen Churchill Direct Lending has a consensus rating of “Moderate Buy” and an average price target of $18.33.

Nuveen Churchill Direct Lending Price Performance

The company’s 50 day moving average price is $17.46 and its 200 day moving average price is $17.49. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.03.

Nuveen Churchill Direct Lending (NYSE:NCDL) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. The company had revenue of $55.09 million during the quarter, compared to analysts’ expectations of $54.30 million. Nuveen Churchill Direct Lending had a net margin of 50.23% and a return on equity of 12.70%. On average, equities analysts predict that Nuveen Churchill Direct Lending Corp. will post 2.28 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Hudson Value Partners LLC acquired a new stake in shares of Nuveen Churchill Direct Lending in the 3rd quarter worth $376,000. Confluence Investment Management LLC increased its holdings in Nuveen Churchill Direct Lending by 0.9% during the 3rd quarter. Confluence Investment Management LLC now owns 118,161 shares of the company’s stock valued at $2,058,000 after acquiring an additional 1,076 shares in the last quarter. Dudley Capital Management LLC purchased a new stake in shares of Nuveen Churchill Direct Lending during the third quarter worth about $204,000. Catalina Capital Group LLC purchased a new stake in shares of Nuveen Churchill Direct Lending during the third quarter worth about $182,000. Finally, Farther Finance Advisors LLC grew its holdings in Nuveen Churchill Direct Lending by 119.8% in the third quarter. Farther Finance Advisors LLC now owns 3,201 shares of the company’s stock valued at $56,000 after purchasing an additional 1,745 shares during the period.

About Nuveen Churchill Direct Lending

Nuveen Churchill Direct Lending Corp. is a specialty finance company focused primarily on investing in senior secured loans to private equity-owned U.S. middle market companies. It has elected to be regulated as a business development company. Nuveen Churchill Direct Lending Corp. is based in NEW YORK.