Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) Receives $14.44 Consensus Target Price from Brokerages

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) has been assigned a consensus rating of “Reduce” from the five analysts that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $14.4375.

NCDL has been the subject of several research analyst reports. Wells Fargo & Company downgraded shares of Nuveen Churchill Direct Lending from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $13.00 to $12.00 in a research note on Friday, June 12th. Wall Street Zen cut Nuveen Churchill Direct Lending from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Zacks Research downgraded Nuveen Churchill Direct Lending from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 26th. Finally, UBS Group decreased their target price on Nuveen Churchill Direct Lending from $15.50 to $14.75 and set a “neutral” rating for the company in a research report on Monday, May 18th.

Insider Activity

In other news, CAO Marissa Hassen bought 3,782 shares of the stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average price of $13.21 per share, with a total value of $49,960.22. Following the completion of the acquisition, the chief accounting officer directly owned 9,780 shares in the company, valued at approximately $129,193.80. The trade was a 63.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John Mccally purchased 7,500 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were purchased at an average price of $13.27 per share, for a total transaction of $99,525.00. Following the completion of the purchase, the vice president owned 15,245 shares of the company’s stock, valued at approximately $202,301.15. This trade represents a 96.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 16,282 shares of company stock valued at $215,485. 0.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nuveen Churchill Direct Lending

Institutional investors have recently added to or reduced their stakes in the business. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Nuveen Churchill Direct Lending by 3.2% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 26,426 shares of the company’s stock valued at $428,000 after purchasing an additional 807 shares in the last quarter. Aprio Wealth Management LLC boosted its holdings in Nuveen Churchill Direct Lending by 0.8% during the fourth quarter. Aprio Wealth Management LLC now owns 115,053 shares of the company’s stock worth $1,535,000 after buying an additional 879 shares in the last quarter. NewEdge Advisors LLC boosted 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 worth $73,000 after buying an additional 1,118 shares in the last quarter. BNP Paribas Financial Markets grew 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 period. Finally, Sei Investments Co. grew its position in Nuveen Churchill Direct Lending by 11.4% during 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 during the period.

Nuveen Churchill Direct Lending Trading Down 1.1%

NCDL stock opened at $12.51 on Monday. Nuveen Churchill Direct Lending has a twelve month low of $11.97 and a twelve month high of $17.11. The company’s 50 day moving average is $12.74 and its two-hundred day moving average is $13.28. The stock has a market cap of $617.92 million, a P/E ratio of 10.43 and a beta of 0.51.

Nuveen Churchill Direct Lending (NYSE:NCDL) last issued its earnings results on Thursday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $17.15 million during the quarter, compared to analyst estimates of $47.79 million. On average, equities research analysts predict that Nuveen Churchill Direct Lending will post 1.6 earnings per share for the current year.

Nuveen Churchill Direct Lending Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Tuesday, June 30th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 11.5%. The ex-dividend date of this dividend is Tuesday, June 30th. Nuveen Churchill Direct Lending’s dividend payout ratio is presently 120.00%.

About Nuveen Churchill Direct Lending

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.