Nuveen Churchill Direct Lending (NYSE:NCDL) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Nuveen Churchill Direct Lending (NYSE:NCDL) from a sell rating to a hold rating in a research report report published on Sunday.

A number of other equities analysts have also recently commented on NCDL. UBS Group raised their target price on Nuveen Churchill Direct Lending from $14.75 to $15.50 and gave the stock a “neutral” rating in a report on Monday, April 20th. Wells Fargo & Company decreased 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. Keefe, Bruyette & Woods cut their price target on 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. Finally, Truist Financial cut their price target on Nuveen Churchill Direct Lending from $18.00 to $16.00 and set a “buy” rating for the company in a research note 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 company. Based on data from MarketBeat.com, Nuveen Churchill Direct Lending currently has an average rating of “Hold” and an average price target of $15.50.

Nuveen Churchill Direct Lending Stock Performance

Shares of Nuveen Churchill Direct Lending stock opened at $13.26 on Friday. Nuveen Churchill Direct Lending has a one year low of $12.43 and a one year high of $17.27. The stock’s fifty day moving average is $13.56 and its 200 day moving average is $13.82. The stock has a market cap of $654.76 million, a P/E ratio of 11.05 and a beta of 0.63.

Nuveen Churchill Direct Lending (NYSE:NCDL) last announced its earnings results on Thursday, May 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Nuveen Churchill Direct Lending had a return on equity of 9.80% and a net margin of 29.56%.The company had revenue of $17.15 million during the quarter, compared to the consensus estimate of $47.79 million. Analysts predict that Nuveen Churchill Direct Lending will post 1.66 EPS for the current year.

Nuveen Churchill Direct Lending Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, June 30th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 10.9%. The ex-dividend date is Tuesday, June 30th. Nuveen Churchill Direct Lending’s dividend payout ratio is presently 120.00%.

Insiders Place Their Bets

In other Nuveen Churchill Direct Lending news, Treasurer Shaul Vichness purchased 5,000 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was acquired at an average price of $13.20 per share, for a total transaction of $66,000.00. Following the purchase, the treasurer owned 30,705 shares of the company’s stock, valued at approximately $405,306. This represents a 19.45% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mat Linett purchased 2,000 shares of the business’s stock in a transaction on Friday, March 6th. The stock was acquired at an average price of $13.05 per share, with a total value of $26,100.00. Following the purchase, the director directly owned 10,365 shares in the company, valued at $135,263.25. This represents a 23.91% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 56,329 shares of company stock worth $751,066 in the last three months. 0.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its position in shares of 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 valued at $33,000 after purchasing an additional 1,573 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Nuveen Churchill Direct Lending during the third quarter valued at about $38,000. NewEdge Advisors LLC grew its position in shares of Nuveen Churchill Direct Lending by 33.0% during the second quarter. NewEdge Advisors LLC now owns 4,511 shares of the company’s stock valued at $73,000 after purchasing an additional 1,118 shares in the last quarter. Quadrant Capital Group LLC purchased a new position in shares of Nuveen Churchill Direct Lending during the third quarter valued at about $80,000. Finally, State of Wyoming grew its position in shares of Nuveen Churchill Direct Lending by 16.4% during the third quarter. State of Wyoming now owns 7,739 shares of the company’s stock valued at $107,000 after purchasing an additional 1,090 shares in the last quarter.

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.