Callodine Capital Management LP Has $5.72 Million Position in Nuveen Churchill Direct Lending Corp. $NCDL

Callodine Capital Management LP lessened its position in Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) by 18.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 450,000 shares of the company’s stock after selling 99,369 shares during the period. Callodine Capital Management LP owned about 0.91% of Nuveen Churchill Direct Lending worth $5,724,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NCDL. Van ECK Associates Corp raised its holdings in shares of Nuveen Churchill Direct Lending by 14.6% in the 4th quarter. Van ECK Associates Corp now owns 839,143 shares of the company’s stock valued at $11,194,000 after purchasing an additional 106,610 shares during the period. Invesco Ltd. grew its holdings in Nuveen Churchill Direct Lending by 2,179.1% during the fourth 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 period. UBS Group AG increased its position in Nuveen Churchill Direct Lending by 40.0% during the fourth 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 last quarter. Closed End Fund Advisors Inc. acquired a new position in Nuveen Churchill Direct Lending during the fourth quarter worth approximately $7,374,000. Finally, Opal Wealth Advisors LLC raised its stake in Nuveen Churchill Direct Lending by 5.0% in the fourth quarter. Opal Wealth Advisors LLC now owns 551,974 shares of the company’s stock valued at $7,363,000 after buying an additional 26,454 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NCDL. Zacks Research raised Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Wells Fargo & Company lowered Nuveen Churchill Direct Lending from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $13.00 to $12.00 in a report on Friday, June 12th. UBS Group dropped their price target on Nuveen Churchill Direct Lending from $15.50 to $14.75 and set a “neutral” rating on the stock in a research note on Monday, May 18th. Finally, Wall Street Zen raised Nuveen Churchill Direct Lending from a “sell” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $14.44.

Insider Transactions at Nuveen Churchill Direct Lending

In other news, VP John Mccally purchased 7,500 shares of Nuveen Churchill Direct Lending stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average cost of $13.27 per share, for a total transaction of $99,525.00. Following the purchase, the vice president directly owned 15,245 shares of the company’s stock, valued at $202,301.15. This trade represents a 96.84% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Treasurer Shaul Vichness acquired 5,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was purchased at an average cost of $13.20 per share, for a total transaction of $66,000.00. Following the completion of the acquisition, the treasurer owned 30,705 shares in the company, valued at approximately $405,306. This represents a 19.45% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 16,282 shares of company stock worth $215,485. Company insiders own 0.68% of the company’s stock.

Nuveen Churchill Direct Lending Stock Performance

Shares of NCDL opened at $12.14 on Friday. Nuveen Churchill Direct Lending Corp. has a 52 week low of $11.97 and a 52 week high of $17.11. The firm has a market cap of $599.84 million, a P/E ratio of 10.12 and a beta of 0.51. The firm’s 50-day simple moving average is $12.69 and its 200 day simple moving average is $13.26.

Nuveen Churchill Direct Lending (NYSE:NCDL) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate 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 net margin of 29.56% and a return on equity of 9.80%. As a group, equities analysts forecast that Nuveen Churchill Direct Lending Corp. will post 1.6 earnings per share for the current year.

Nuveen Churchill Direct Lending Dividend Announcement

The company 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 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 11.9%. Nuveen Churchill Direct Lending’s dividend payout ratio (DPR) is 120.00%.

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.