Key Points
- Nuveen Churchill Direct Lending CAO Marissa Hassen bought 3,782 shares at $13.21 each, a purchase worth about $49,960 that increased her direct stake by 63.05%.
- The company recently reported Q1 earnings of $0.41 per share, missing estimates by $0.01, while revenue came in far below expectations at $17.15 million versus $47.79 million expected.
- Nuveen Churchill Direct Lending also declared a quarterly dividend of $0.36 per share, implying an annualized yield of 10.9%, though the payout ratio is high at 120%.
Nuveen Churchill Direct Lending Corp. (NYSE:NCDL - Get Free Report) CAO Marissa Hassen bought 3,782 shares of Nuveen Churchill Direct Lending stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average price of $13.21 per share, for a total transaction of $49,960.22. Following the purchase, the chief accounting officer directly owned 9,780 shares in the company, valued at $129,193.80. This represents a 63.05% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Nuveen Churchill Direct Lending Stock Performance
Shares of NYSE:NCDL opened at $13.22 on Thursday. Nuveen Churchill Direct Lending Corp. has a 52 week low of $12.43 and a 52 week high of $17.27. The company's fifty day moving average is $13.56 and its 200-day moving average is $13.83. The company has a market capitalization of $652.90 million, a PE ratio of 11.02 and a beta of 0.63.
Nuveen Churchill Direct Lending (NYSE:NCDL - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). The company had revenue of $17.15 million for the quarter, compared to analyst estimates of $47.79 million. Nuveen Churchill Direct Lending had a return on equity of 9.80% and a net margin of 29.56%. On average, analysts forecast that Nuveen Churchill Direct Lending Corp. will post 1.66 EPS for the current year.
Nuveen Churchill Direct Lending Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Tuesday, June 30th will be given a dividend of $0.36 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.44 annualized dividend and a yield of 10.9%. Nuveen Churchill Direct Lending's dividend payout ratio is 120.00%.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the stock. UBS Group upped their price target on shares of Nuveen Churchill Direct Lending from $14.75 to $15.50 and gave the stock a "neutral" rating in a research report on Monday, April 20th. Keefe, Bruyette & Woods reduced their price target on shares of Nuveen Churchill Direct Lending from $16.00 to $15.00 and set a "market perform" rating on the stock in a research report on Friday, February 27th. Wells Fargo & Company reduced their price target on shares of 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 reduced their price target on shares of Nuveen Churchill Direct Lending from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Wednesday, March 4th. Finally, Wall Street Zen downgraded shares of Nuveen Churchill Direct Lending from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Nuveen Churchill Direct Lending has an average rating of "Hold" and a consensus price target of $15.50.
Read Our Latest Report on Nuveen Churchill Direct Lending
Institutional Trading of Nuveen Churchill Direct Lending
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its holdings in Nuveen Churchill Direct Lending by 14.6% during the 4th quarter. Van ECK Associates Corp now owns 839,143 shares of the company's stock worth $11,194,000 after purchasing an additional 106,610 shares during the last quarter. Invesco Ltd. raised its holdings in Nuveen Churchill Direct Lending by 2,179.1% during the 4th quarter. Invesco Ltd. now owns 742,296 shares of the company's stock worth $9,902,000 after purchasing an additional 709,727 shares during the last quarter. UBS Group AG raised its holdings in Nuveen Churchill Direct Lending by 40.0% during the 4th quarter. UBS Group AG now owns 689,050 shares of the company's stock worth $9,192,000 after purchasing an additional 196,956 shares during the last quarter. Callodine Capital Management LP raised its holdings in Nuveen Churchill Direct Lending by 9.1% during the 3rd quarter. Callodine Capital Management LP now owns 572,800 shares of the company's stock worth $7,905,000 after purchasing an additional 47,800 shares during the last quarter. Finally, Closed End Fund Advisors Inc. bought a new stake in Nuveen Churchill Direct Lending during the 4th quarter worth about $7,374,000.
Nuveen Churchill Direct Lending Company Profile
(
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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