Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) Given Consensus Rating of “Hold” by Brokerages

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) has received an average recommendation of “Hold” from the six analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $15.35.

Several brokerages have issued reports on NCDL. Truist Financial reduced their price target on shares of Nuveen Churchill Direct Lending from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Wall Street Zen raised shares of Nuveen Churchill Direct Lending from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. UBS Group cut their price objective on shares of Nuveen Churchill Direct Lending from $15.50 to $14.75 and set a “neutral” rating for the company in a research report on Monday, May 18th. Zacks Research lowered shares of Nuveen Churchill Direct Lending from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 26th. Finally, Keefe, Bruyette & Woods cut their price objective 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 report on Friday, February 27th.

Insiders Place Their Bets

In other news, insider Jason Strife acquired 7,690 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was acquired at an average price of $13.40 per share, with a total value of $103,046.00. Following the completion of the transaction, the insider directly owned 15,737 shares in the company, valued at approximately $210,875.80. This represents a 95.56% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kenneth J. Kencel acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was purchased at an average cost of $13.04 per share, with a total value of $130,400.00. Following the transaction, the chief executive officer owned 58,117 shares of the company’s stock, valued at approximately $757,845.68. The trade was a 20.78% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have acquired 56,329 shares of company stock valued at $751,066. 0.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nuveen Churchill Direct Lending

A number of institutional investors have recently modified their holdings of NCDL. BI Asset Management Fondsmaeglerselskab A S increased its position in Nuveen Churchill Direct Lending by 2.7% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 27,149 shares of the company’s stock worth $375,000 after purchasing an additional 723 shares during the last quarter. Aprio Wealth Management LLC increased its position in Nuveen Churchill Direct Lending by 0.7% during the third quarter. Aprio Wealth Management LLC now owns 114,174 shares of the company’s stock worth $1,576,000 after purchasing an additional 742 shares during the last quarter. State of Wyoming increased its position in Nuveen Churchill Direct Lending by 16.4% during the third quarter. State of Wyoming now owns 7,739 shares of the company’s stock worth $107,000 after purchasing an additional 1,090 shares during the last quarter. NewEdge Advisors LLC increased its position in Nuveen Churchill Direct Lending by 33.0% during the second quarter. NewEdge Advisors LLC now owns 4,511 shares of the company’s stock worth $73,000 after purchasing an additional 1,118 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position 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 purchasing an additional 1,573 shares during the last quarter.

Nuveen Churchill Direct Lending Price Performance

Shares of NYSE NCDL opened at $13.07 on Friday. Nuveen Churchill Direct Lending has a 12-month low of $12.43 and a 12-month high of $17.27. The company has a market capitalization of $645.53 million, a PE ratio of 10.89 and a beta of 0.63. The firm’s 50-day moving average is $13.50 and its two-hundred day moving average is $13.72.

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

Nuveen Churchill Direct Lending Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Tuesday, June 30th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Nuveen Churchill Direct Lending’s payout ratio is currently 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.