Key Points
- Director James Joseph Ritchie bought 17,857 shares on March 10 at $13.71 each (≈$244,819), raising his stake to 78,193 shares — a 29.6% increase valued at about $1.07 million.
- Nuveen Churchill declared a quarterly dividend of $0.36 (annualized $1.44), implying a 10.9% yield and a payout ratio of 137.4%, suggesting dividends exceed current earnings.
- The company reported Q4 EPS of $0.44 (beating by $0.01) but revenue of $26.36M fell short of estimates; the stock trades around $13.21 with an average analyst rating of "Hold" and a consensus target of $15.40.
Nuveen Churchill Direct Lending Corp. (NYSE:NCDL - Get Free Report) Director James Joseph Ritchie acquired 17,857 shares of the company's stock in a transaction dated Tuesday, March 10th. The shares were bought at an average price of $13.71 per share, for a total transaction of $244,819.47. Following the purchase, the director owned 78,193 shares in the company, valued at approximately $1,072,026.03. This represents a 29.60% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Nuveen Churchill Direct Lending Stock Down 0.8%
Shares of NYSE NCDL traded down $0.11 during trading hours on Thursday, hitting $13.21. The company had a trading volume of 14,010 shares, compared to its average volume of 271,038. Nuveen Churchill Direct Lending Corp. has a 1-year low of $12.54 and a 1-year high of $17.59. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.27. The firm's 50 day moving average is $13.53 and its 200-day moving average is $14.17. The stock has a market capitalization of $652.19 million, a P/E ratio of 10.08 and a beta of 0.44.
Nuveen Churchill Direct Lending (NYSE:NCDL - Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. Nuveen Churchill Direct Lending had a net margin of 31.57% and a return on equity of 10.48%. The business had revenue of $26.36 million for the quarter, compared to the consensus estimate of $49.60 million. On average, analysts expect that Nuveen Churchill Direct Lending Corp. will post 2.28 earnings per share for the current fiscal year.
Nuveen Churchill Direct Lending Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.36 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.44 annualized dividend and a dividend yield of 10.9%. Nuveen Churchill Direct Lending's payout ratio is currently 137.40%.
Institutional Trading of Nuveen Churchill Direct Lending
A number of hedge funds have recently modified their holdings of the stock. Virtu Financial LLC boosted its holdings in shares of Nuveen Churchill Direct Lending by 181.2% during the 4th quarter. Virtu Financial LLC now owns 41,725 shares of the company's stock worth $557,000 after buying an additional 26,885 shares during the period. Invesco Ltd. raised its holdings in Nuveen Churchill Direct Lending by 2,179.1% in the 4th quarter. Invesco Ltd. now owns 742,296 shares of the company's stock valued at $9,902,000 after acquiring an additional 709,727 shares during the period. NewEdge Advisors LLC lifted its position in Nuveen Churchill Direct Lending by 31.2% during the fourth quarter. NewEdge Advisors LLC now owns 6,073 shares of the company's stock worth $81,000 after acquiring an additional 1,443 shares during the last quarter. VARCOV Co. acquired a new stake in Nuveen Churchill Direct Lending during the fourth quarter worth approximately $371,000. Finally, Almitas Capital LLC bought a new stake in shares of Nuveen Churchill Direct Lending during the fourth quarter worth approximately $936,000.
Analysts Set New Price Targets
Several brokerages recently issued reports on NCDL. Wall Street Zen upgraded shares of Nuveen Churchill Direct Lending from a "sell" rating to a "hold" rating in a research note on Tuesday. Wells Fargo & Company lowered 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. Truist Financial dropped their price objective 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. Zacks Research raised Nuveen Churchill Direct Lending from a "strong sell" rating to a "hold" rating in a research report on Friday, January 9th. Finally, Keefe, Bruyette & Woods reduced their target price on Nuveen Churchill Direct Lending from $16.00 to $15.00 and set a "market perform" rating for the company in a research note on Friday, February 27th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Nuveen Churchill Direct Lending has an average rating of "Hold" and a consensus target price of $15.40.
Check Out Our Latest Analysis on NCDL
About Nuveen Churchill Direct Lending
(
Get Free Report)
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.
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