Key Points
- Insider buying: Nuveen Churchill Direct Lending VP John Mccally bought 7,500 shares at $13.27 each, lifting his holdings to 15,245 shares and nearly doubling his ownership stake.
- Dividend news: The company declared a quarterly dividend of $0.36 per share, equal to an annualized yield of about 11.7%, with payment scheduled for July 28.
- Mixed outlook: The stock was up 0.5% and trades near its 50-day and 200-day moving averages, but analysts have a consensus rating of Reduce after recent target price cuts and a slight earnings miss.
Nuveen Churchill Direct Lending Corp. (NYSE:NCDL - Get Free Report) VP John Mccally acquired 7,500 shares of the firm's stock in a transaction dated Friday, May 15th. The shares were bought at an average cost of $13.27 per share, with a total value of $99,525.00. Following the completion of the acquisition, the vice president directly owned 15,245 shares of the company's stock, valued at $202,301.15. The trade was a 96.84% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.
Nuveen Churchill Direct Lending Stock Up 0.5%
Shares of Nuveen Churchill Direct Lending stock opened at $12.28 on Thursday. Nuveen Churchill Direct Lending Corp. has a twelve month low of $11.97 and a twelve month high of $17.27. The company's 50 day moving average is $13.30 and its 200 day moving average is $13.48. The company has a market cap of $606.26 million, a price-to-earnings ratio of 10.23 and a beta of 0.50.
Nuveen Churchill Direct Lending (NYSE:NCDL - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). The company had revenue of $17.15 million during the quarter, compared to the consensus estimate of $47.79 million. Nuveen Churchill Direct Lending had a return on equity of 9.80% and a net margin of 29.56%. Sell-side analysts expect that Nuveen Churchill Direct Lending Corp. will post 1.6 EPS for the current fiscal year.
Nuveen Churchill Direct Lending Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Tuesday, June 30th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.7%. The ex-dividend date is Tuesday, June 30th. Nuveen Churchill Direct Lending's dividend payout ratio (DPR) is 120.00%.
Institutional Investors Weigh In On Nuveen Churchill Direct Lending
A number of hedge funds have recently modified their holdings of the business. Quantbot Technologies LP bought a new position in Nuveen Churchill Direct Lending in the 2nd quarter worth $152,000. Cresset Asset Management LLC grew its holdings in Nuveen Churchill Direct Lending by 17.6% during the second quarter. Cresset Asset Management LLC now owns 36,025 shares of the company's stock valued at $599,000 after purchasing an additional 5,391 shares during the period. NewEdge Advisors LLC grew its holdings in Nuveen Churchill Direct Lending by 33.0% during the second quarter. NewEdge Advisors LLC now owns 4,511 shares of the company's stock valued at $73,000 after purchasing an additional 1,118 shares during the period. Sei Investments Co. increased its position in Nuveen Churchill Direct Lending by 11.4% in the second quarter. Sei Investments Co. now owns 18,678 shares of the company's stock worth $302,000 after buying an additional 1,918 shares in the last quarter. Finally, Bank of America Corp DE increased its position in Nuveen Churchill Direct Lending by 41.2% in the second quarter. Bank of America Corp DE now owns 86,036 shares of the company's stock worth $1,393,000 after buying an additional 25,106 shares in the last quarter.
Analysts Set New Price Targets
A number of analysts recently commented on the company. Wall Street Zen cut Nuveen Churchill Direct Lending from a "hold" rating to a "sell" rating in a research report on Saturday, June 6th. Wells Fargo & Company cut Nuveen Churchill Direct Lending from an "equal weight" rating to an "underweight" rating and dropped their target price for the stock from $13.00 to $12.00 in a research report on Friday, June 12th. UBS Group cut their price target on 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. Truist Financial reduced their price target on shares of Nuveen Churchill Direct Lending from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Wednesday, March 4th. Finally, 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 for the company in a research report on Friday, February 27th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus price target of $14.44.
View Our Latest Stock 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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