Nuveen Churchill Direct Lending (NYSE:NCDL) Treasurer Shaul Vichness Purchases 5,000 Shares of Stock

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) Treasurer Shaul Vichness purchased 5,000 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was bought at an average cost of $13.13 per share, with a total value of $65,650.00. Following the completion of the purchase, the treasurer owned 25,000 shares of the company’s stock, valued at approximately $328,250. This represents a 25.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Nuveen Churchill Direct Lending Stock Down 1.2%

Shares of NCDL stock traded down $0.16 on Thursday, reaching $13.15. 205,685 shares of the company were exchanged, compared to its average volume of 275,054. 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 company has a 50-day moving average of $13.53 and a 200-day moving average of $14.17. The company has a market cap of $649.43 million, a price-to-earnings ratio of 10.04 and a beta of 0.44. Nuveen Churchill Direct Lending Corp. has a one year low of $12.54 and a one year high of $17.59.

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

Nuveen Churchill Direct Lending Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.36 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.44 annualized dividend and a yield of 11.0%. Nuveen Churchill Direct Lending’s dividend payout ratio is presently 137.40%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NCDL. Zacks Research upgraded shares of Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a report on Friday, January 9th. Keefe, Bruyette & Woods dropped their price target on shares of Nuveen Churchill Direct Lending from $16.00 to $15.00 and set a “market perform” rating on the stock in a research report on Friday, February 27th. Truist Financial decreased their price objective on Nuveen Churchill Direct Lending from $18.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Wall Street Zen raised Nuveen Churchill Direct Lending from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Wells Fargo & Company dropped their target price on Nuveen Churchill Direct Lending from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 4th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $15.40.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its position in Nuveen Churchill Direct Lending by 190.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,400 shares of the company’s stock worth $33,000 after purchasing an additional 1,573 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Nuveen Churchill Direct Lending during the 3rd quarter worth approximately $38,000. NewEdge Advisors LLC boosted its stake in shares of Nuveen Churchill Direct Lending by 33.0% in the 2nd quarter. NewEdge Advisors LLC now owns 4,511 shares of the company’s stock worth $73,000 after buying an additional 1,118 shares during the last quarter. Quadrant Capital Group LLC purchased a new position in shares of Nuveen Churchill Direct Lending in the 3rd quarter worth approximately $80,000. Finally, Global Retirement Partners LLC bought a new position in shares of Nuveen Churchill Direct Lending in the third quarter valued at approximately $85,000.

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.