Nuveen Churchill Direct Lending (NYSE:NCDL) CEO Kenneth Kencel Buys 10,000 Shares

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) CEO Kenneth Kencel acquired 10,000 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was purchased at an average cost of $13.04 per share, for a total transaction of $130,400.00. Following the completion of the purchase, the chief executive officer directly owned 58,117 shares in the company, valued at $757,845.68. This trade represents a 20.78% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Nuveen Churchill Direct Lending Stock Performance

NYSE NCDL traded down $0.21 during trading hours on Friday, hitting $13.09. 56,070 shares of the stock were exchanged, compared to its average volume of 274,932. 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 company has a market cap of $646.52 million, a price-to-earnings ratio of 9.99 and a beta of 0.44. Nuveen Churchill Direct Lending Corp. has a 12-month low of $12.54 and a 12-month high of $17.59. The stock has a 50-day moving average of $13.56 and a 200 day moving average of $14.26.

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

Nuveen Churchill Direct Lending Cuts Dividend

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

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. raised its stake 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 worth $5,776,000 after purchasing an additional 50,507 shares during the period. Magnetar Financial LLC acquired a new stake in shares of Nuveen Churchill Direct Lending during the 2nd quarter worth $773,000. Y Intercept Hong Kong Ltd raised its position in shares of Nuveen Churchill Direct Lending by 100.0% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 32,820 shares of the company’s stock worth $531,000 after buying an additional 16,408 shares during the period. MQS Management LLC acquired a new position in Nuveen Churchill Direct Lending in the third quarter valued at $604,000. Finally, AlphaQuest LLC purchased a new stake in Nuveen Churchill Direct Lending during the third quarter valued at about $135,000.

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.