Hiroshi Watanabe The Nuveen Churchill Direct Lending Corporation (NYSE:NCDL) is one of the BDCs that have capitalized on the prevailing tailwinds and went public this year (late January). While NCDL's net asset base is quite large, compared to Morgan Stanley Direct Lending BDC (MSDL), which is another BDC that has carried out an IPO this year, the total size is roughly 2x smaller. In April, I wrote an article on MSDL, assessing the underlying fundamentals to understand whether they are attractive enough to ...

Most of us have heard the dictum "the trend is your friend." And this is undeniably the key to success when it comes to short-term investing or trading. But it isn't easy to ensure the sustainability of a trend and profit from it.Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate revisions, etc. -- ...

JamesBrey Introduction In today's market, it's hard to find high-quality stocks that are trading at great valuations. This is especially true in the BDC sector; it is very hard to find deals, with many of their share prices trading at premiums above their NAVs as a result of the high interest rate environment. One BDC in particular that trades at a small discount to its NAV is PennantPark Floating Rate Capital (NYSE:PFLT), a quality, monthly-paying BDC that has solid fundamentals. In this article, I dis ...

Thapana OnphalaiI am ramping up my exposure to New Mountain Finance (NASDAQ:NMFC) this week, as the business development company has been able to grow its dividend payments and has attractive total return potential. The stock is presently priced below net asset value, and I think that the company has upside in its Equity portfolio as long as the U.S. economy is doing well. With a 10% yield, that is covered by net investment income, and taking into account that the central bank is not eager to lower shor ...

Adam Gault Welcome to another installment of our BDC Market Weekly Review, where we discuss market activity in the Business Development Company ("BDC") sector from both the bottom-up - highlighting individual news and events - as well as the top-down - providing an overview of the broader market. We also try to add some historical context as well as relevant themes that look to be driving the market or that investors ought to be mindful of. This update covers the period through the third week of May. Ma ...

DAVIS, Calif., May 22, 2024 /PRNewswire/ -- Infinant Health, a privately-held company focused on changing the trajectory of human health by supporting the development and restoration of the immune system via the gut microbiome, announces additions to their advisory team: Dr. Katharine Knobil and Dr. David Pompliano. Additionally, Judy Gawlik Brown has joined the board, representing Manna Tree Partners, to help prepare the company's expansion into pharma.  Infinant Health recently announced their submission ...

Olivier Le Moal/iStock via Getty Images Barings BDC (NYSE:BBDC), the middle market business development company, is poised to outperform the broader market index and peers through a combination of robust cash returns and a steady share price appreciation. This is because the business development company and its end markets are performing better than expectations, which is reflected in its solid portfolio credit quality and improving demand. As of the end of the March quarter, it appears that its key por ...

JayLazarinGoldman Sachs BDC, Inc. (NYSE:GSBD) has enjoyed a nice surge of new investment commitments in the first quarter that is poised to lead to higher net investment income in the future. Furthermore, the business development company comfortably covered its dividend payout of $0.45 per share per quarter with net investment income and the portfolio kept performing well. Goldman Sachs BDC’s low non-accrual ratio, strong excess dividend coverage and moderate valuation help make a solid value propositio ...

Nikolay Pandev December last year, I issued a bearish article on a rather popular BDC - Barings BDC (NYSE:NYSE:BBDC) - making the case that considering the underlying risks, the potential return profile is not strong enough to warrant an attractive investment play. After some while, BBDC circulated its Q4, 2023 earnings deck, which did not reveal any meaningful fundamental improvements for me to change the stance. There are three main reasons why I consider BBDC a suboptimal choice: Excessive leverage ...

michaelquirk Welcome to another installment of our BDC Market Weekly Review, where we discuss market activity in the Business Development Company ("BDC") sector from both the bottom-up - highlighting individual news and events - as well as the top-down - providing an overview of the broader market. We also try to add some historical context as well as relevant themes that look to be driving the market or that investors ought to be mindful of. This update covers the period through the second week of May. ...