John Mccally Acquires 7,500 Shares of Nuveen Churchill Direct Lending (NYSE:NCDL) Stock

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) VP John Mccally acquired 7,500 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average cost of $13.27 per share, for a total transaction 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 trade represents a 96.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Nuveen Churchill Direct Lending Stock Performance

Nuveen Churchill Direct Lending stock opened at $12.43 on Friday. Nuveen Churchill Direct Lending Corp. has a 52-week low of $11.97 and a 52-week high of $17.27. The firm has a 50 day moving average price of $13.27 and a two-hundred day moving average price of $13.46. The firm has a market cap of $613.93 million, a price-to-earnings ratio of 10.36 and a beta of 0.50.

Nuveen Churchill Direct Lending (NYSE:NCDL) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.41 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 firm had revenue of $17.15 million during the quarter, compared to the consensus estimate of $47.79 million. As a group, equities research analysts predict that Nuveen Churchill Direct Lending Corp. will post 1.6 EPS for the current fiscal year.

Nuveen Churchill Direct Lending Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.44 dividend on an annualized basis and a yield of 11.6%. Nuveen Churchill Direct Lending’s dividend payout ratio is 120.00%.

Hedge Funds Weigh In On Nuveen Churchill Direct Lending

A number of institutional investors and hedge funds have recently made changes to their positions in NCDL. BNP Paribas Financial Markets grew its stake in shares of 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 buying an additional 1,573 shares during the period. Advisory Services Network LLC acquired a new position in Nuveen Churchill Direct Lending during the 3rd quarter worth approximately $38,000. NewEdge Advisors LLC raised its stake in Nuveen Churchill Direct Lending by 33.0% during the 2nd quarter. NewEdge Advisors LLC now owns 4,511 shares of the company’s stock worth $73,000 after buying an additional 1,118 shares during the period. Quadrant Capital Group LLC bought a new position in Nuveen Churchill Direct Lending in the third quarter worth approximately $80,000. Finally, State of Wyoming bought a new position in Nuveen Churchill Direct Lending in the second quarter worth approximately $108,000.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods lowered their price objective on Nuveen Churchill Direct Lending from $16.00 to $15.00 and set a “market perform” rating for the company in a research report on Friday, February 27th. UBS Group decreased their target price on Nuveen Churchill Direct Lending from $15.50 to $14.75 and set a “neutral” rating for the company in a research note on Monday, May 18th. Wall Street Zen downgraded Nuveen Churchill Direct Lending from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. 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 note on Wednesday, March 4th. Finally, Wells Fargo & Company cut Nuveen Churchill Direct Lending from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $13.00 to $12.00 in a report on Friday, June 12th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $14.44.

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.