Hennion & Walsh Asset Management Inc. Boosts Stock Position in Nuveen Churchill Direct Lending Corp. $NCDL

Hennion & Walsh Asset Management Inc. raised its holdings in Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) by 14.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 479,357 shares of the company’s stock after buying an additional 60,786 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Nuveen Churchill Direct Lending were worth $6,395,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Brown Brothers Harriman & Co. acquired a new stake in shares of Nuveen Churchill Direct Lending during the third quarter worth approximately $1,498,000. Millennium Management LLC boosted its stake in Nuveen Churchill Direct Lending by 64.1% during the 3rd quarter. Millennium Management LLC now owns 136,567 shares of the company’s stock valued at $1,885,000 after acquiring an additional 53,342 shares during the last quarter. UBS Group AG boosted its stake in Nuveen Churchill Direct Lending by 10.8% during the 3rd quarter. UBS Group AG now owns 492,094 shares of the company’s stock valued at $6,791,000 after acquiring an additional 48,157 shares during the last quarter. Callodine Capital Management LP grew its holdings in Nuveen Churchill Direct Lending by 9.1% during the 3rd quarter. Callodine Capital Management LP now owns 572,800 shares of the company’s stock worth $7,905,000 after acquiring an additional 47,800 shares in the last quarter. Finally, MQS Management LLC acquired a new position in Nuveen Churchill Direct Lending during the 3rd quarter worth $604,000.

Insider Buying and Selling

In related news, CEO Kenneth J. Kencel bought 10,000 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was bought at an average cost of $13.04 per share, with a total value of $130,400.00. Following the completion of the acquisition, the chief executive officer owned 58,117 shares of the company’s stock, valued at $757,845.68. This trade represents a 20.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jason Strife purchased 7,690 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were bought at an average price of $13.40 per share, for a total transaction 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 trade represents a 95.56% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 47,547 shares of company stock valued at $635,105 over the last 90 days. 0.62% of the stock is owned by corporate insiders.

Nuveen Churchill Direct Lending Stock Up 0.3%

Shares of NYSE:NCDL opened at $12.76 on Monday. The stock has a market capitalization of $630.27 million, a price-to-earnings ratio of 9.74 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 $17.52. The company’s fifty day moving average is $13.45 and its two-hundred day moving average is $13.93. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.85 and a current ratio of 1.85.

Nuveen Churchill Direct Lending (NYSE:NCDL) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. Nuveen Churchill Direct Lending had a net margin of 31.57% and a return on equity of 10.48%. The business had revenue of $26.36 million during the quarter, compared to analyst estimates of $49.60 million. Equities analysts anticipate that Nuveen Churchill Direct Lending Corp. will post 2.28 EPS for the current year.

Nuveen Churchill Direct Lending Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, March 31st will be issued a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.44 dividend on an annualized basis and a yield of 11.3%. Nuveen Churchill Direct Lending’s dividend payout ratio (DPR) is currently 137.40%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a research note on Friday, January 9th. Wells Fargo & Company decreased their price target on Nuveen Churchill Direct Lending from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 4th. Keefe, Bruyette & Woods lowered their price objective on Nuveen Churchill Direct Lending from $16.00 to $15.00 and set a “market perform” rating for the company in a report on Friday, February 27th. Wall Street Zen upgraded Nuveen Churchill Direct Lending from a “sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Finally, Truist Financial reduced their target price on 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. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Nuveen Churchill Direct Lending has a consensus rating of “Hold” and a consensus target price 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.