Nuveen Churchill Direct Lending Corp. $NCDL Position Lifted by Bulldog Investors LLP

Bulldog Investors LLP grew its stake in shares of Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) by 29.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,822 shares of the company’s stock after acquiring an additional 51,410 shares during the period. Bulldog Investors LLP owned about 0.46% of Nuveen Churchill Direct Lending worth $2,860,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BNP Paribas Financial Markets lifted its position in shares of 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 purchasing an additional 1,573 shares during the last quarter. Advisory Services Network LLC acquired a new position in Nuveen Churchill Direct Lending in the third quarter worth about $38,000. NewEdge Advisors LLC increased its holdings in Nuveen Churchill Direct Lending by 33.0% in the second quarter. NewEdge Advisors LLC now owns 4,511 shares of the company’s stock valued at $73,000 after buying an additional 1,118 shares during the last quarter. Quadrant Capital Group LLC bought a new stake in Nuveen Churchill Direct Lending in the third quarter valued at about $80,000. Finally, State of Wyoming acquired a new stake in Nuveen Churchill Direct Lending during the second quarter valued at approximately $108,000.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Wells Fargo & Company downgraded Nuveen Churchill Direct Lending from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $13.00 to $12.00 in a report on Friday, June 12th. UBS Group lowered their price target on Nuveen Churchill Direct Lending from $15.50 to $14.75 and set a “neutral” rating for the company in a report on Monday, May 18th. Wall Street Zen lowered Nuveen Churchill Direct Lending from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, Zacks Research cut Nuveen Churchill Direct Lending from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Nuveen Churchill Direct Lending presently has a consensus rating of “Reduce” and a consensus price target of $14.44.

Insider Buying and Selling at Nuveen Churchill Direct Lending

In other Nuveen Churchill Direct Lending news, Treasurer Shaul Vichness bought 5,000 shares of Nuveen Churchill Direct Lending stock in a transaction that occurred 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 of the company’s stock, valued at approximately $405,306. This represents a 19.45% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Marissa Hassen acquired 3,782 shares of Nuveen Churchill Direct Lending stock in a transaction dated Tuesday, May 12th. The shares were bought at an average cost of $13.21 per share, with a total value of $49,960.22. Following the completion of the purchase, the chief accounting officer owned 9,780 shares in the company, valued at approximately $129,193.80. This represents a 63.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders bought 16,282 shares of company stock valued at $215,485. 0.68% of the stock is owned by corporate insiders.

Nuveen Churchill Direct Lending Trading Down 0.4%

Shares of NYSE NCDL opened at $12.63 on Tuesday. The stock has a 50 day simple moving average of $12.76 and a 200-day simple moving average of $13.29. The company has a market cap of $623.94 million, a PE ratio of 10.53 and a beta of 0.51. Nuveen Churchill Direct Lending Corp. has a 12-month low of $11.97 and a 12-month high of $17.11.

Nuveen Churchill Direct Lending (NYSE:NCDL) last released its quarterly 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). The business had revenue of $17.15 million during the quarter, compared to the consensus estimate of $47.79 million. Nuveen Churchill Direct Lending had a return on equity of 9.80% and a net margin of 29.56%. Sell-side analysts forecast that Nuveen Churchill Direct Lending Corp. will post 1.6 earnings per share for the current fiscal year.

Nuveen Churchill Direct Lending Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, June 30th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 11.4%. The ex-dividend date is Tuesday, June 30th. Nuveen Churchill Direct Lending’s dividend payout ratio 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.