Callodine Capital Management LP Has $7.91 Million Stock Position in Nuveen Churchill Direct Lending Corp. $NCDL

Callodine Capital Management LP grew its holdings in shares of Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) by 9.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 572,800 shares of the company’s stock after purchasing an additional 47,800 shares during the quarter. Callodine Capital Management LP owned about 1.16% of Nuveen Churchill Direct Lending worth $7,905,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. BNP Paribas Financial Markets increased its position in Nuveen Churchill Direct Lending by 190.2% during the third quarter. BNP Paribas Financial Markets now owns 2,400 shares of the company’s stock worth $33,000 after buying an additional 1,573 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Nuveen Churchill Direct Lending by 33.0% during the 2nd quarter. NewEdge Advisors LLC now owns 4,511 shares of the company’s stock worth $73,000 after acquiring an additional 1,118 shares in the last quarter. Quadrant Capital Group LLC acquired a new position in shares of Nuveen Churchill Direct Lending during the 3rd quarter valued at about $80,000. Global Retirement Partners LLC acquired a new position in shares of Nuveen Churchill Direct Lending during the 3rd quarter valued at about $85,000. Finally, State of Wyoming bought a new position in shares of Nuveen Churchill Direct Lending in the 2nd quarter valued at approximately $108,000.

Insider Transactions at Nuveen Churchill Direct Lending

In other Nuveen Churchill Direct Lending news, Director James Joseph Ritchie acquired 17,857 shares of Nuveen Churchill Direct Lending stock in a transaction dated Tuesday, March 10th. The stock was bought at an average cost of $13.71 per share, with a total value of $244,819.47. Following the acquisition, the director owned 78,193 shares of the company’s stock, valued at approximately $1,072,026.03. The trade was a 29.60% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth M. Miranda bought 3,000 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were acquired at an average price of $12.83 per share, for a total transaction of $38,490.00. Following the completion of the transaction, the director owned 30,000 shares in the company, valued at $384,900. This represents a 11.11% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 47,547 shares of company stock valued at $635,105 over the last 90 days. Corporate insiders own 0.62% of the company’s stock.

Nuveen Churchill Direct Lending Stock Up 0.7%

Shares of NCDL opened at $13.22 on Friday. Nuveen Churchill Direct Lending Corp. has a 52 week low of $12.54 and a 52 week high of $17.59. The firm has a market capitalization of $652.74 million, a P/E ratio of 10.09 and a beta of 0.44. The company has a 50-day simple moving average of $13.52 and a 200-day simple moving average of $14.15. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.85 and a current ratio of 1.85.

Nuveen Churchill Direct Lending (NYSE:NCDL) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. Nuveen Churchill Direct Lending had a return on equity of 10.48% and a net margin of 31.57%.The firm had revenue of $26.36 million for the quarter, compared to analyst estimates of $49.60 million. On average, equities research analysts expect that Nuveen Churchill Direct Lending Corp. will post 2.28 earnings per share for the current year.

Nuveen Churchill Direct Lending Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Tuesday, March 31st 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 is Tuesday, March 31st. Nuveen Churchill Direct Lending’s dividend payout ratio is presently 137.40%.

Analysts Set New Price Targets

NCDL has been the subject of several analyst reports. Wall Street Zen upgraded Nuveen Churchill Direct Lending from a “sell” rating to a “hold” rating in a report on Tuesday. Keefe, Bruyette & Woods dropped 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. Truist Financial reduced their price objective on shares of Nuveen Churchill Direct Lending from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Zacks Research raised shares of Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a report on Friday, January 9th. Finally, Wells Fargo & Company lowered 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. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $15.40.

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.