Key Points
- Nuveen Churchill Direct Lending Treasurer Shaul Vichness bought 5,000 shares on May 14 at an average price of $13.20, a $66,000 transaction that increased his ownership by 19.45% to 30,705 shares.
- The company recently reported quarterly EPS of $0.41, missing analyst expectations of $0.42, while revenue came in well below estimates at $17.15 million versus $47.79 million expected.
- NCDL announced a quarterly dividend of $0.36 per share, payable July 28, which implies a 10.9% annualized yield; however, its payout ratio is 120%, suggesting the dividend is not fully covered by earnings.
Nuveen Churchill Direct Lending Corp. (NYSE:NCDL - Get Free Report) Treasurer Shaul Vichness purchased 5,000 shares of Nuveen Churchill Direct Lending stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average price of $13.20 per share, for a total transaction of $66,000.00. Following the acquisition, the treasurer owned 30,705 shares in the company, valued at $405,306. This trade represents a 19.45% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Shaul Vichness also recently made the following trade(s):
- On Thursday, March 12th, Shaul Vichness purchased 5,000 shares of Nuveen Churchill Direct Lending stock. The shares were acquired at an average price of $13.13 per share, for a total transaction of $65,650.00.
Nuveen Churchill Direct Lending Price Performance
Shares of NYSE:NCDL opened at $13.26 on Friday. Nuveen Churchill Direct Lending Corp. has a 1 year low of $12.43 and a 1 year high of $17.27. The company has a market cap of $654.76 million, a PE ratio of 11.05 and a beta of 0.63. The stock's 50-day moving average is $13.56 and its 200 day moving average is $13.82.
Nuveen Churchill Direct Lending (NYSE:NCDL - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.41 earnings per share (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 business had revenue of $17.15 million for the quarter, compared to analysts' expectations of $47.79 million. Analysts expect that Nuveen Churchill Direct Lending Corp. will post 1.66 EPS for the current fiscal year.
Nuveen Churchill Direct Lending Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.36 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 10.9%. Nuveen Churchill Direct Lending's dividend payout ratio is 120.00%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S boosted its position in Nuveen Churchill Direct Lending by 2.7% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 27,149 shares of the company's stock worth $375,000 after purchasing an additional 723 shares during the last quarter. Aprio Wealth Management LLC boosted its position in Nuveen Churchill Direct Lending by 0.7% in the third quarter. Aprio Wealth Management LLC now owns 114,174 shares of the company's stock worth $1,576,000 after purchasing an additional 742 shares during the last quarter. Modera Wealth Management LLC boosted its position in Nuveen Churchill Direct Lending by 4.3% in the third quarter. Modera Wealth Management LLC now owns 18,283 shares of the company's stock worth $252,000 after purchasing an additional 760 shares during the last quarter. State of Wyoming boosted its position in Nuveen Churchill Direct Lending by 16.4% in the third quarter. State of Wyoming now owns 7,739 shares of the company's stock worth $107,000 after purchasing an additional 1,090 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Nuveen Churchill Direct Lending by 33.0% in the 2nd quarter. NewEdge Advisors LLC now owns 4,511 shares of the company's stock worth $73,000 after purchasing an additional 1,118 shares during the period.
Analyst Ratings Changes
A number of brokerages have recently commented on NCDL. 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 report on Wednesday, March 4th. Keefe, Bruyette & Woods dropped their price target on 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. Wall Street Zen cut Nuveen Churchill Direct Lending from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Wells Fargo & Company dropped 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. Finally, UBS Group boosted their price target on 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. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $15.50.
Get Our Latest Report on Nuveen Churchill Direct Lending
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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