Nuveen Churchill Direct Lending (NYSE:NCDL) Sets New 52-Week Low – What’s Next?

Shares of Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) reached a new 52-week low during trading on Wednesday . The stock traded as low as $13.12 and last traded at $13.08, with a volume of 48174 shares traded. The stock had previously closed at $13.61.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NCDL shares. Wall Street Zen raised shares of Nuveen Churchill Direct Lending from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th. UBS Group lowered their target price on Nuveen Churchill Direct Lending from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Keefe, Bruyette & Woods cut their price target on Nuveen Churchill Direct Lending from $17.00 to $16.00 and set a “market perform” rating for the company in a research note on Wednesday, November 5th. Wells Fargo & Company cut their price objective on Nuveen Churchill Direct Lending from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 5th. Finally, Zacks Research lowered shares of Nuveen Churchill Direct Lending from a “hold” rating to a “strong sell” rating in a research report on Monday, November 10th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $15.75.

Nuveen Churchill Direct Lending Stock Down 3.7%

The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.25. The business’s fifty day moving average price is $14.27 and its 200 day moving average price is $15.11. The company has a market capitalization of $647.01 million, a P/E ratio of 8.56 and a beta of 0.40.

Nuveen Churchill Direct Lending (NYSE:NCDL) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.03). The company had revenue of $51.11 million during the quarter, compared to the consensus estimate of $52.00 million. Nuveen Churchill Direct Lending had a net margin of 36.83% and a return on equity of 11.13%. As a group, equities research analysts predict that Nuveen Churchill Direct Lending Corp. will post 2.28 earnings per share for the current fiscal year.

Nuveen Churchill Direct Lending Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 27th. Stockholders of record on Wednesday, December 31st will be issued a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.80 annualized dividend and a dividend yield of 13.7%. Nuveen Churchill Direct Lending’s dividend payout ratio is presently 117.65%.

Insider Buying and Selling at Nuveen Churchill Direct Lending

In other Nuveen Churchill Direct Lending news, Treasurer Shaul Vichness bought 5,000 shares of Nuveen Churchill Direct Lending stock in a transaction dated Monday, November 17th. The shares were acquired at an average cost of $14.20 per share, with a total value of $71,000.00. Following the acquisition, the treasurer directly owned 20,000 shares of the company’s stock, valued at $284,000. The trade was a 33.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kenneth J. Kencel acquired 20,000 shares of Nuveen Churchill Direct Lending stock in a transaction on Thursday, November 6th. The stock was acquired at an average cost of $14.22 per share, for a total transaction of $284,400.00. Following the purchase, the chief executive officer owned 48,117 shares of the company’s stock, valued at approximately $684,223.74. This represents a 71.13% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 27,000 shares of company stock worth $383,600 over the last ninety days. Corporate insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Nuveen Churchill Direct Lending

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd acquired a new stake in Nuveen Churchill Direct Lending in the first quarter worth about $491,000. Opal Wealth Advisors LLC boosted its stake in shares of Nuveen Churchill Direct Lending by 46.3% in the 2nd quarter. Opal Wealth Advisors LLC now owns 498,655 shares of the company’s stock valued at $8,073,000 after purchasing an additional 157,763 shares during the last quarter. Magnetar Financial LLC acquired a new stake in shares of Nuveen Churchill Direct Lending during the 2nd quarter worth approximately $773,000. GraniteShares Advisors LLC raised its stake in shares of Nuveen Churchill Direct Lending by 6.7% during the second quarter. GraniteShares Advisors LLC now owns 167,084 shares of the company’s stock worth $2,705,000 after buying an additional 10,439 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its stake in Nuveen Churchill Direct Lending by 100.0% in the second quarter. Y Intercept Hong Kong Ltd now owns 32,820 shares of the company’s stock valued at $531,000 after acquiring an additional 16,408 shares during 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.