Marissa Hassen Purchases 3,782 Shares of Nuveen Churchill Direct Lending (NYSE:NCDL) Stock

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) CAO Marissa Hassen purchased 3,782 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were bought at an average cost of $13.21 per share, for a total transaction of $49,960.22. Following the purchase, the chief accounting officer owned 9,780 shares of the company’s stock, valued at $129,193.80. This trade represents a 63.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Nuveen Churchill Direct Lending Stock Down 0.3%

NYSE:NCDL opened at $13.18 on Friday. Nuveen Churchill Direct Lending Corp. has a fifty-two week low of $12.43 and a fifty-two week high of $17.27. The firm’s 50 day moving average is $13.56 and its two-hundred day moving average is $13.83. The company has a market cap of $651.01 million, a P/E ratio of 10.98 and a beta of 0.63.

Nuveen Churchill Direct Lending (NYSE:NCDL) last issued 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). 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 during the quarter, compared to analysts’ expectations of $47.79 million. Research analysts forecast that Nuveen Churchill Direct Lending Corp. will post 1.66 earnings per share for the current fiscal year.

Nuveen Churchill Direct Lending Dividend Announcement

The firm also recently announced 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 10.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Nuveen Churchill Direct Lending’s dividend payout ratio (DPR) is currently 120.00%.

Institutional Investors Weigh In On Nuveen Churchill Direct Lending

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its stake 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 buying an additional 106,610 shares during the period. Invesco Ltd. increased its stake 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 buying an additional 709,727 shares during the period. UBS Group AG increased its stake 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 buying an additional 196,956 shares during the period. Callodine Capital Management LP increased its stake 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 buying an additional 47,800 shares during the period. Finally, Closed End Fund Advisors Inc. purchased a new stake in Nuveen Churchill Direct Lending during the 4th quarter worth $7,374,000.

Analyst Upgrades and Downgrades

NCDL has been the topic of a number of research reports. Truist Financial cut their target price on shares of 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. UBS Group raised their target price on shares of Nuveen Churchill Direct Lending from $14.75 to $15.50 and gave the company a “neutral” rating in a research note on Monday, April 20th. Wells Fargo & Company cut their target price 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 note on Wednesday, March 4th. Wall Street Zen downgraded shares of Nuveen Churchill Direct Lending from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Keefe, Bruyette & Woods lowered 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 report on Friday, February 27th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $15.50.

Nuveen Churchill Direct Lending Company Profile

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.