Key Points
- Director Kenneth Miranda bought 2,000 shares at an average price of $14.10 (totaling $28,200), raising his direct stake to 27,000 shares — an 8.0% increase — as disclosed in an SEC filing.
- The company declared a quarterly dividend of $0.45 (annualized $1.80), implying a 12.6% yield with an ex-dividend/record date of December 31, though the dividend payout ratio is a high 117.65%.
- Nuveen Churchill Direct Lending reported quarterly EPS of $0.43 vs. $0.46 expected and modestly missed revenue, and several analysts have cut price targets leaving a consensus rating of "Hold" with an average target of $15.75.
Nuveen Churchill Direct Lending Corp. (NYSE:NCDL - Get Free Report) Director Kenneth Miranda bought 2,000 shares of the stock in a transaction on Wednesday, November 19th. The shares were bought at an average price of $14.10 per share, for a total transaction of $28,200.00. Following the purchase, the director directly owned 27,000 shares in the company, valued at approximately $380,700. This trade represents a 8.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Nuveen Churchill Direct Lending Stock Performance
Shares of NYSE NCDL traded up $0.42 during trading on Friday, reaching $14.32. 299,285 shares of the company traded hands, compared to its average volume of 258,703. The firm has a 50 day simple moving average of $14.23 and a 200-day simple moving average of $15.50. Nuveen Churchill Direct Lending Corp. has a 52-week low of $13.16 and a 52-week high of $18.01. The stock has a market capitalization of $707.12 million, a PE ratio of 9.36 and a beta of 0.38. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.25.
Nuveen Churchill Direct Lending (NYSE:NCDL - Get Free Report) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.43 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.03). Nuveen Churchill Direct Lending had a net margin of 36.83% and a return on equity of 11.13%. The company had revenue of $51.11 million for the quarter, compared to the consensus estimate of $52.00 million. Equities research analysts anticipate that Nuveen Churchill Direct Lending Corp. will post 2.28 earnings per share for the current year.
Nuveen Churchill Direct Lending Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 27th. Stockholders of record on Wednesday, December 31st will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 12.6%. The ex-dividend date is Wednesday, December 31st. Nuveen Churchill Direct Lending's dividend payout ratio (DPR) is 117.65%.
Wall Street Analysts Forecast Growth
NCDL has been the subject of a number of research reports. UBS Group reduced their price objective on Nuveen Churchill Direct Lending from $17.00 to $15.00 and set a "neutral" rating for the company in a research report on Tuesday, October 14th. Keefe, Bruyette & Woods reduced their price target on shares of Nuveen Churchill Direct Lending from $17.00 to $16.00 and set a "market perform" rating for the company in a research report on Wednesday, November 5th. Zacks Research downgraded shares of Nuveen Churchill Direct Lending from a "hold" rating to a "strong sell" rating in a report on Monday, November 10th. Wall Street Zen lowered shares of Nuveen Churchill Direct Lending from a "hold" rating to a "sell" rating in a research report on Saturday, November 8th. Finally, Wells Fargo & Company decreased their price target on shares of Nuveen Churchill Direct Lending from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Nuveen Churchill Direct Lending presently has a consensus rating of "Hold" and an average price target of $15.75.
Read Our Latest Report on NCDL
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of NCDL. Y Intercept Hong Kong Ltd bought a new position in Nuveen Churchill Direct Lending in the 1st quarter worth $279,000. Dudley Capital Management LLC boosted its stake in shares of Nuveen Churchill Direct Lending by 5.2% in the first quarter. Dudley Capital Management LLC now owns 33,862 shares of the company's stock worth $575,000 after acquiring an additional 1,675 shares during the period. XTX Topco Ltd grew its position in shares of Nuveen Churchill Direct Lending by 48.0% during the first quarter. XTX Topco Ltd now owns 18,125 shares of the company's stock worth $308,000 after purchasing an additional 5,880 shares in the last quarter. Entropy Technologies LP grew its holdings in Nuveen Churchill Direct Lending by 6.8% during the 1st quarter. Entropy Technologies LP now owns 12,025 shares of the company's stock valued at $204,000 after buying an additional 761 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Nuveen Churchill Direct Lending during the first quarter worth $178,000.
Nuveen Churchill Direct Lending Company Profile
(
Get Free Report)
Nuveen Churchill Direct Lending Corp. is a specialty finance company focused primarily on investing in senior secured loans to private equity-owned U.S. middle market companies. It has elected to be regulated as a business development company. Nuveen Churchill Direct Lending Corp. is based in NEW YORK.
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