Nuveen Churchill Direct Lending (NYSE:NCDL) Director Kenneth Miranda Purchases 3,000 Shares

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) Director Kenneth Miranda purchased 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was bought at an average price of $12.83 per share, for a total transaction of $38,490.00. Following the transaction, the director directly owned 30,000 shares of the company’s stock, valued at $384,900. This trade represents a 11.11% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Nuveen Churchill Direct Lending Price Performance

Shares of NCDL stock traded down $0.01 on Thursday, reaching $13.33. The company had a trading volume of 211,603 shares, compared to its average volume of 277,018. Nuveen Churchill Direct Lending Corp. has a one year low of $12.54 and a one year high of $17.59. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $658.33 million, a PE ratio of 10.18 and a beta of 0.44. The business’s 50-day moving average is $13.57 and its 200 day moving average is $14.27.

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

Nuveen Churchill Direct Lending Cuts Dividend

The company 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. This represents a $1.44 dividend on an annualized basis and a yield of 10.8%. The ex-dividend date of this dividend is Tuesday, March 31st. Nuveen Churchill Direct Lending’s payout ratio is currently 109.92%.

Institutional Trading of Nuveen Churchill Direct Lending

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. lifted its position in Nuveen Churchill Direct Lending by 13.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 418,571 shares of the company’s stock valued at $5,776,000 after acquiring an additional 50,507 shares during the last quarter. Magnetar Financial LLC purchased a new stake in Nuveen Churchill Direct Lending in the 2nd quarter worth approximately $773,000. Y Intercept Hong Kong Ltd boosted its stake in shares of Nuveen Churchill Direct Lending by 100.0% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 32,820 shares of the company’s stock worth $531,000 after acquiring an additional 16,408 shares in the last quarter. MQS Management LLC purchased a new position in Nuveen Churchill Direct Lending during the third quarter valued at $604,000. Finally, Modera Wealth Management LLC lifted its holdings in Nuveen Churchill Direct Lending by 4.3% in the 3rd quarter. Modera Wealth Management LLC now owns 18,283 shares of the company’s stock valued at $252,000 after purchasing an additional 760 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts recently commented on NCDL shares. Truist Financial cut their price objective on shares of Nuveen Churchill Direct Lending from $18.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday. Wall Street Zen lowered Nuveen Churchill Direct Lending from a “hold” rating to a “sell” rating in a research report on Monday. Keefe, Bruyette & Woods lowered 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 research note on Friday, February 27th. Wells Fargo & Company dropped their price objective on Nuveen Churchill Direct Lending from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Zacks Research upgraded Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a research report on Friday, January 9th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $15.40.

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.