Brokerages Set Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) PT at $15.40

Shares of Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) have earned an average rating of “Hold” from the six ratings firms that are covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $15.40.

Several analysts have recently commented on the stock. Wall Street Zen upgraded shares of Nuveen Churchill Direct Lending from a “sell” rating to a “hold” rating in a report on Tuesday, March 10th. Zacks Research upgraded shares of Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a report on Friday, January 9th. 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 report on Wednesday, March 4th. Wells Fargo & Company decreased their price objective on shares of Nuveen Churchill Direct Lending from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 4th. Finally, Keefe, Bruyette & Woods dropped their target price 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.

Nuveen Churchill Direct Lending Stock Down 0.2%

Shares of NYSE:NCDL opened at $13.31 on Tuesday. The business’s 50 day moving average is $13.50 and its 200 day moving average is $14.08. Nuveen Churchill Direct Lending has a 12-month low of $12.54 and a 12-month high of $17.59. The stock has a market cap of $657.38 million, a price-to-earnings ratio of 10.16 and a beta of 0.44. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.27.

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

Nuveen Churchill Direct Lending Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Tuesday, March 31st will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 10.8%. The ex-dividend date of this dividend is Tuesday, March 31st. Nuveen Churchill Direct Lending’s dividend payout ratio (DPR) is presently 137.40%.

Insider Buying and Selling at Nuveen Churchill Direct Lending

In other Nuveen Churchill Direct Lending news, Director Mat Linett acquired 2,000 shares of the business’s stock in a transaction on Friday, March 6th. The shares were acquired at an average price of $13.05 per share, with a total value of $26,100.00. Following the completion of the transaction, the director owned 10,365 shares in the company, valued at approximately $135,263.25. This trade represents a 23.91% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Treasurer Shaul Vichness bought 5,000 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were acquired at an average cost of $13.13 per share, with a total value of $65,650.00. Following the completion of the transaction, the treasurer owned 25,000 shares in the company, valued at approximately $328,250. The trade was a 25.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 47,547 shares of company stock valued at $635,105 in the last ninety days. 0.62% of the stock is owned by corporate insiders.

Institutional Trading of Nuveen Churchill Direct Lending

A number of large investors have recently added to or reduced their stakes in the stock. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Nuveen Churchill Direct Lending by 2.7% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 27,149 shares of the company’s stock valued at $375,000 after buying an additional 723 shares during the last quarter. Aprio Wealth Management LLC grew its stake in shares of Nuveen Churchill Direct Lending by 0.7% during the 3rd quarter. Aprio Wealth Management LLC now owns 114,174 shares of the company’s stock worth $1,576,000 after acquiring an additional 742 shares during the period. Modera Wealth Management LLC increased its holdings in Nuveen Churchill Direct Lending by 4.3% in the 3rd quarter. Modera Wealth Management LLC now owns 18,283 shares of the company’s stock worth $252,000 after acquiring an additional 760 shares during the last quarter. State of Wyoming increased its holdings in Nuveen Churchill Direct Lending by 16.4% in the 3rd quarter. State of Wyoming now owns 7,739 shares of the company’s stock worth $107,000 after acquiring an additional 1,090 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake 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 valued at $73,000 after acquiring an additional 1,118 shares during the period.

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.