John Mccally Acquires 7,500 Shares of Nuveen Churchill Direct Lending (NYSE:NCDL) Stock

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) VP John Mccally purchased 7,500 shares of the stock in a transaction on Friday, May 15th. The shares were acquired at an average cost of $13.27 per share, for a total transaction of $99,525.00. Following the transaction, the vice president owned 15,245 shares of the company’s stock, valued at approximately $202,301.15. The trade was a 96.84% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Nuveen Churchill Direct Lending Trading Up 0.5%

Shares of NCDL traded up $0.06 during mid-day trading on Wednesday, reaching $12.28. The company’s stock had a trading volume of 649,497 shares, compared to its average volume of 245,878. Nuveen Churchill Direct Lending Corp. has a 1-year low of $11.97 and a 1-year high of $17.27. The business has a 50-day simple moving average of $13.33 and a two-hundred day simple moving average of $13.50. The stock has a market cap of $606.26 million, a P/E ratio of 10.23 and a beta of 0.50.

Nuveen Churchill Direct Lending (NYSE:NCDL) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $47.79 million. Research analysts anticipate that Nuveen Churchill Direct Lending Corp. will post 1.6 EPS for the current year.

Nuveen Churchill Direct Lending Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.36 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.44 annualized dividend and a yield of 11.7%. Nuveen Churchill Direct Lending’s dividend payout ratio (DPR) is 120.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its stake 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 buying an additional 1,573 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Nuveen Churchill Direct Lending during the 3rd quarter worth approximately $38,000. NewEdge Advisors LLC lifted its holdings in shares of Nuveen Churchill Direct Lending by 33.0% during the 2nd quarter. NewEdge Advisors LLC now owns 4,511 shares of the company’s stock worth $73,000 after acquiring an additional 1,118 shares during the period. Quadrant Capital Group LLC acquired a new stake in shares of Nuveen Churchill Direct Lending during the 3rd quarter worth approximately $80,000. Finally, State of Wyoming bought a new position in Nuveen Churchill Direct Lending in the second quarter valued at approximately $108,000.

Analysts Set New Price Targets

A number of brokerages have commented on NCDL. Wall Street Zen lowered Nuveen Churchill Direct Lending from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. 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. Truist Financial dropped 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 note on Wednesday, March 4th. 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 on the stock in a research report on Friday, February 27th. Finally, Wells Fargo & Company cut shares of Nuveen Churchill Direct Lending from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $13.00 to $12.00 in a report on Friday, June 12th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $14.44.

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.