Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) Receives Consensus Rating of “Hold” from Analysts

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) has been given an average recommendation of “Hold” by the five brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $15.75.

NCDL has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Nuveen Churchill Direct Lending from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th. UBS Group decreased their price target on shares of Nuveen Churchill Direct Lending from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. Zacks Research downgraded Nuveen Churchill Direct Lending from a “hold” rating to a “strong sell” rating in a research report on Monday, November 10th. Wells Fargo & Company cut their price objective on Nuveen Churchill Direct Lending from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Finally, Keefe, Bruyette & Woods decreased their target price 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.

Insider Transactions at Nuveen Churchill Direct Lending

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

Hedge Funds Weigh In On Nuveen Churchill Direct Lending

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings in Nuveen Churchill Direct Lending by 190.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,400 shares of the company’s stock valued at $33,000 after acquiring an additional 1,573 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Nuveen Churchill Direct Lending during the third quarter valued at approximately $38,000. NewEdge Advisors LLC increased its position in shares of Nuveen Churchill Direct Lending by 33.0% during the second quarter. NewEdge Advisors LLC now owns 4,511 shares of the company’s stock valued at $73,000 after purchasing an additional 1,118 shares during the period. Quadrant Capital Group LLC acquired a new position in shares of Nuveen Churchill Direct Lending in the third quarter valued at $80,000. Finally, Global Retirement Partners LLC acquired a new position in shares of Nuveen Churchill Direct Lending in the third quarter valued at $85,000.

Nuveen Churchill Direct Lending Stock Performance

NCDL opened at $13.67 on Thursday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.65 and a current ratio of 1.65. The company has a market cap of $675.12 million, a PE ratio of 8.93 and a beta of 0.40. The stock has a 50-day moving average of $14.29 and a 200-day moving average of $15.13. Nuveen Churchill Direct Lending has a 52-week low of $13.16 and a 52-week high of $18.01.

Nuveen Churchill Direct Lending (NYSE:NCDL) last posted its earnings results 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). Nuveen Churchill Direct Lending had a return on equity of 11.13% and a net margin of 36.83%.The company had revenue of $51.11 million during the quarter, compared to analyst estimates of $52.00 million. As a group, equities research analysts forecast that Nuveen Churchill Direct Lending will post 2.28 earnings per share for the current fiscal year.

Nuveen Churchill Direct Lending Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 27th. Stockholders of record on Wednesday, December 31st will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 13.2%. The ex-dividend date of this dividend is Wednesday, December 31st. Nuveen Churchill Direct Lending’s dividend payout ratio is currently 117.65%.

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.