Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) Given Average Recommendation of “Hold” by Brokerages

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) has earned an average rating of “Hold” from the five analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $14.4375.

A number of research analysts have weighed in on NCDL shares. Zacks Research raised shares of Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a research report on Tuesday. UBS Group cut their target price on shares of 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 raised shares of Nuveen Churchill Direct Lending from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Wells Fargo & Company lowered shares of Nuveen Churchill Direct Lending from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $13.00 to $12.00 in a research report on Friday, June 12th.

Insider Buying and Selling at Nuveen Churchill Direct Lending

In other news, VP John Mccally acquired 7,500 shares of Nuveen Churchill Direct Lending stock in a transaction on Friday, May 15th. The shares were purchased at an average price of $13.27 per share, with a total value of $99,525.00. Following the acquisition, the vice president owned 15,245 shares in the company, valued at $202,301.15. This represents a 96.84% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Marissa Hassen purchased 3,782 shares of the stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average price of $13.21 per share, with a total value of $49,960.22. Following the transaction, 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 ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 16,282 shares of company stock worth $215,485 over the last three months. Company insiders own 0.68% of the company’s stock.

Institutional Trading of Nuveen Churchill Direct Lending

Hedge funds have recently bought and sold shares of the stock. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Nuveen Churchill Direct Lending by 3.2% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 26,426 shares of the company’s stock valued at $428,000 after acquiring an additional 807 shares in the last quarter. Aprio Wealth Management LLC raised its stake in Nuveen Churchill Direct Lending by 0.8% in the fourth quarter. Aprio Wealth Management LLC now owns 115,053 shares of the company’s stock valued at $1,535,000 after buying an additional 879 shares during the period. NewEdge Advisors LLC increased its holdings in shares of 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 acquiring an additional 1,118 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Nuveen Churchill Direct Lending by 190.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,400 shares of the company’s stock worth $33,000 after acquiring an additional 1,573 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Nuveen Churchill Direct Lending by 11.4% in the second quarter. Sei Investments Co. now owns 18,678 shares of the company’s stock valued at $302,000 after purchasing an additional 1,918 shares during the last quarter.

Nuveen Churchill Direct Lending Stock Up 0.3%

Shares of NYSE NCDL opened at $12.14 on Monday. Nuveen Churchill Direct Lending has a 12 month low of $11.97 and a 12 month high of $17.11. The company has a market cap of $599.84 million, a price-to-earnings ratio of 10.12 and a beta of 0.51. The business has a fifty day simple moving average of $12.69 and a 200-day simple moving average of $13.26.

Nuveen Churchill Direct Lending (NYSE:NCDL) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). Nuveen Churchill Direct Lending had a return on equity of 9.80% and a net margin of 29.56%.The firm had revenue of $17.15 million for the quarter, compared to analysts’ expectations of $47.79 million. As a group, sell-side analysts expect that Nuveen Churchill Direct Lending will post 1.6 EPS for the current fiscal year.

Nuveen Churchill Direct Lending Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 11.9%. Nuveen Churchill Direct Lending’s payout ratio is presently 120.00%.

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.