Bulldog Investors LLP Has $2.86 Million Position in Nuveen Churchill Direct Lending Corp. $NCDL

Bulldog Investors LLP raised its position in Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) by 29.6% during the first quarter, HoldingsChannel.com reports. The firm owned 224,822 shares of the company’s stock after buying an additional 51,410 shares during the quarter. Bulldog Investors LLP’s holdings in Nuveen Churchill Direct Lending were worth $2,860,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. NewGen Asset Management Ltd bought a new stake in Nuveen Churchill Direct Lending in the first quarter worth $355,000. Nottingham Advisors Inc. bought a new position in Nuveen Churchill Direct Lending during the first quarter valued at about $308,000. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Nuveen Churchill Direct Lending by 3.4% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 155,522 shares of the company’s stock worth $1,978,000 after buying an additional 5,046 shares during the last quarter. Virtu Financial LLC lifted its position in shares of Nuveen Churchill Direct Lending by 181.2% in the fourth quarter. Virtu Financial LLC now owns 41,725 shares of the company’s stock worth $557,000 after buying an additional 26,885 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Nuveen Churchill Direct Lending by 2,179.1% during the 4th quarter. Invesco Ltd. now owns 742,296 shares of the company’s stock worth $9,902,000 after acquiring an additional 709,727 shares in the last quarter.

Nuveen Churchill Direct Lending Stock Performance

Shares of NCDL opened at $12.63 on Tuesday. The company has a 50-day simple moving average of $12.76 and a 200-day simple moving average of $13.29. Nuveen Churchill Direct Lending Corp. has a 52 week low of $11.97 and a 52 week high of $17.11. The firm has a market capitalization of $623.94 million, a P/E ratio of 10.53 and a beta of 0.51.

Nuveen Churchill Direct Lending (NYSE:NCDL) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The firm had revenue of $17.15 million for the quarter, compared to the consensus estimate of $47.79 million. Nuveen Churchill Direct Lending had a net margin of 29.56% and a return on equity of 9.80%. As a group, equities analysts forecast that Nuveen Churchill Direct Lending Corp. will post 1.6 earnings per share for the current year.

Nuveen Churchill Direct Lending Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 11.4%. The ex-dividend date of this dividend is Tuesday, June 30th. Nuveen Churchill Direct Lending’s dividend payout ratio (DPR) is currently 120.00%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Zacks Research lowered Nuveen Churchill Direct Lending from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 26th. UBS Group dropped their price target on shares of Nuveen Churchill Direct Lending from $15.50 to $14.75 and set a “neutral” rating on the stock in a research report on Monday, May 18th. Wall Street Zen cut shares of Nuveen Churchill Direct Lending from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Finally, Wells Fargo & Company downgraded shares of Nuveen Churchill Direct Lending from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $13.00 to $12.00 in a report on Friday, June 12th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $14.44.

Insider Activity at Nuveen Churchill Direct Lending

In other Nuveen Churchill Direct Lending news, CAO Marissa Hassen bought 3,782 shares of the stock in a transaction dated Tuesday, May 12th. The stock was bought at an average cost of $13.21 per share, for a total transaction of $49,960.22. Following the completion of the purchase, the chief accounting officer owned 9,780 shares in the company, valued at $129,193.80. This represents a 63.05% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John Mccally bought 7,500 shares of the stock in a transaction dated Friday, May 15th. The stock was acquired at an average price of $13.27 per share, with a total value of $99,525.00. Following the completion of the purchase, the vice president owned 15,245 shares of the company’s stock, valued at $202,301.15. This represents a 96.84% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 16,282 shares of company stock valued at $215,485 in the last ninety days. Insiders own 0.68% of the company’s stock.

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.