Nuveen Churchill Direct Lending (NYSE:NCDL) CAO Buys $49,960.22 in Stock

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) CAO Marissa Hassen purchased 3,782 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average cost of $13.21 per share, with a total value of $49,960.22. Following 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Nuveen Churchill Direct Lending Stock Performance

Shares of NYSE NCDL opened at $13.26 on Friday. The stock has a market cap of $654.76 million, a price-to-earnings ratio of 11.05 and a beta of 0.63. The business has a 50 day simple moving average of $13.56 and a 200 day simple moving average of $13.82. Nuveen Churchill Direct Lending Corp. has a 52 week low of $12.43 and a 52 week high of $17.27.

Nuveen Churchill Direct Lending (NYSE:NCDL) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). The firm had revenue of $17.15 million during 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%. On average, analysts predict that Nuveen Churchill Direct Lending Corp. will post 1.66 EPS 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 paid a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.44 annualized dividend and a dividend yield of 10.9%. Nuveen Churchill Direct Lending’s payout ratio is presently 120.00%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NCDL. Invesco Ltd. lifted its holdings in shares of Nuveen Churchill Direct Lending by 2,179.1% during the fourth quarter. Invesco Ltd. now owns 742,296 shares of the company’s stock worth $9,902,000 after buying an additional 709,727 shares during the last quarter. Closed End Fund Advisors Inc. acquired a new position in shares of Nuveen Churchill Direct Lending during the fourth quarter worth approximately $7,374,000. Ares Management LLC lifted its holdings in shares of Nuveen Churchill Direct Lending by 188.3% during the fourth quarter. Ares Management LLC now owns 360,830 shares of the company’s stock worth $4,813,000 after buying an additional 235,674 shares during the last quarter. Brown Brothers Harriman & Co. lifted its holdings in shares of Nuveen Churchill Direct Lending by 213.1% during the fourth quarter. Brown Brothers Harriman & Co. now owns 339,978 shares of the company’s stock worth $4,535,000 after buying an additional 231,400 shares during the last quarter. Finally, UBS Group AG lifted its holdings in shares of Nuveen Churchill Direct Lending by 40.0% during the fourth quarter. UBS Group AG now owns 689,050 shares of the company’s stock worth $9,192,000 after buying an additional 196,956 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages recently commented on NCDL. Keefe, Bruyette & Woods lowered 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. Wells Fargo & Company decreased their target price on Nuveen Churchill Direct Lending from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 4th. Wall Street Zen cut Nuveen Churchill Direct Lending from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. UBS Group upped their target price on Nuveen Churchill Direct Lending from $14.75 to $15.50 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Finally, Truist Financial decreased their target price on Nuveen Churchill Direct Lending from $18.00 to $16.00 and set a “buy” rating for the company in a research report 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. According to data from MarketBeat, Nuveen Churchill Direct Lending has an average rating of “Hold” and a consensus target price of $15.50.

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.