Closed End Fund Advisors Inc. Makes New Investment in Nuveen Churchill Direct Lending Corp. $NCDL

Closed End Fund Advisors Inc. acquired a new position in Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 552,804 shares of the company’s stock, valued at approximately $7,374,000. Nuveen Churchill Direct Lending accounts for about 4.4% of Closed End Fund Advisors Inc.’s portfolio, making the stock its largest holding.

Several other hedge funds and other institutional investors have also bought and sold shares of NCDL. UBS Group AG boosted its position in Nuveen Churchill Direct Lending by 40.0% in the fourth quarter. UBS Group AG now owns 689,050 shares of the company’s stock worth $9,192,000 after purchasing an additional 196,956 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Nuveen Churchill Direct Lending by 454.3% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 150,476 shares of the company’s stock valued at $2,007,000 after buying an additional 123,327 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new position in shares of Nuveen Churchill Direct Lending during the 3rd quarter valued at $1,498,000. Vise Technologies Inc. purchased a new position in shares of Nuveen Churchill Direct Lending during the 4th quarter valued at $1,271,000. Finally, Hennion & Walsh Asset Management Inc. lifted its position in shares of Nuveen Churchill Direct Lending by 14.5% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 479,357 shares of the company’s stock valued at $6,395,000 after buying an additional 60,786 shares during the last quarter.

Nuveen Churchill Direct Lending Price Performance

Shares of NYSE NCDL opened at $12.78 on Friday. Nuveen Churchill Direct Lending Corp. has a one year low of $12.43 and a one year high of $17.27. The business’s fifty day moving average price is $13.48 and its 200-day moving average price is $13.67. The stock has a market capitalization of $631.06 million, a PE ratio of 10.65 and a beta of 0.50.

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). Nuveen Churchill Direct Lending had a net margin of 29.56% and a return on equity of 9.80%. The company had revenue of $17.15 million for the quarter, compared to the consensus estimate of $47.79 million. As a group, equities analysts expect that Nuveen Churchill Direct Lending Corp. will post 1.6 EPS for the current fiscal year.

Nuveen Churchill Direct Lending Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.3%. The ex-dividend date is Tuesday, June 30th. Nuveen Churchill Direct Lending’s payout ratio is presently 120.00%.

Insider Activity at Nuveen Churchill Direct Lending

In related news, Treasurer Shaul Vichness acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average cost of $13.20 per share, for a total transaction of $66,000.00. Following the purchase, the treasurer owned 30,705 shares in the company, valued at $405,306. This trade represents a 19.45% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Marissa Hassen acquired 3,782 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average price 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 trade represents a 63.05% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have purchased 31,639 shares of company stock worth $426,430. 0.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NCDL shares. UBS Group dropped their price target on 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. Wells Fargo & Company dropped their price target on Nuveen Churchill Direct Lending from $14.00 to $13.00 and set an “equal weight” rating on the stock 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. Truist Financial dropped their price target on Nuveen Churchill Direct Lending from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Finally, Zacks Research cut Nuveen Churchill Direct Lending from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 26th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Nuveen Churchill Direct Lending currently has an average rating of “Hold” and a consensus price target of $15.35.

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.