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

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) Treasurer Shaul Vichness bought 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were acquired at an average price of $13.13 per share, for a total transaction of $65,650.00. Following the completion of the transaction, the treasurer owned 25,000 shares in the company, valued at $328,250. This trade represents a 25.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Nuveen Churchill Direct Lending Trading Down 1.2%

NYSE NCDL traded down $0.16 on Thursday, hitting $13.15. The company’s stock had a trading volume of 205,685 shares, compared to its average volume of 275,054. The company’s 50-day moving average is $13.53 and its 200 day moving average is $14.17. The firm has a market cap of $649.43 million, a PE ratio of 10.04 and a beta of 0.44. Nuveen Churchill Direct Lending Corp. has a 1-year low of $12.54 and a 1-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.

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. The company had revenue of $26.36 million for the quarter, compared to analyst estimates of $49.60 million. Nuveen Churchill Direct Lending had a net margin of 31.57% and a return on equity of 10.48%. As a group, analysts predict that Nuveen Churchill Direct Lending Corp. will post 2.28 earnings per share for the current fiscal year.

Nuveen Churchill Direct Lending Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, March 31st 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 is Tuesday, March 31st. Nuveen Churchill Direct Lending’s payout ratio is 137.40%.

Institutional Investors Weigh In On Nuveen Churchill Direct Lending

Large investors have recently added to or reduced their stakes in the business. Invesco Ltd. lifted its stake in Nuveen Churchill Direct Lending by 2,179.1% in the fourth quarter. Invesco Ltd. now owns 742,296 shares of the company’s stock valued at $9,902,000 after buying an additional 709,727 shares during the period. Closed End Fund Advisors Inc. acquired a new stake in shares of Nuveen Churchill Direct Lending during the 4th quarter worth approximately $7,374,000. Ares Management LLC grew its position in shares of Nuveen Churchill Direct Lending by 188.3% during the 4th quarter. Ares Management LLC now owns 360,830 shares of the company’s stock worth $4,813,000 after buying an additional 235,674 shares during the period. Brown Brothers Harriman & Co. increased its stake in shares of Nuveen Churchill Direct Lending by 213.1% in the 4th quarter. Brown Brothers Harriman & Co. now owns 339,978 shares of the company’s stock valued at $4,535,000 after acquiring an additional 231,400 shares in the last quarter. Finally, UBS Group AG lifted its position in shares of Nuveen Churchill Direct Lending by 40.0% during the 4th quarter. UBS Group AG now owns 689,050 shares of the company’s stock valued at $9,192,000 after acquiring an additional 196,956 shares during the period.

Analyst Upgrades and Downgrades

NCDL has been the subject of a number of analyst reports. Wall Street Zen upgraded Nuveen Churchill Direct Lending from a “sell” rating to a “hold” rating in a research report on Tuesday. Keefe, Bruyette & Woods decreased their target price 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. 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. Wells Fargo & Company reduced their price objective on shares of Nuveen Churchill Direct Lending from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 4th. Finally, Truist Financial decreased 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 research report on Wednesday, March 4th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Nuveen Churchill Direct Lending has a consensus rating of “Hold” and a consensus price target 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.