Nuveen Churchill Direct Lending (NYSE:NCDL) Sets New 1-Year Low – What’s Next?

Shares of Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) hit a new 52-week low on Monday . The stock traded as low as $12.09 and last traded at $12.1050, with a volume of 60062 shares trading hands. The stock had previously closed at $12.23.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wells Fargo & Company cut shares of Nuveen Churchill Direct Lending from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $13.00 to $12.00 in a research note on Friday, June 12th. Wall Street Zen downgraded shares of Nuveen Churchill Direct Lending from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. UBS Group decreased their target price on shares of Nuveen Churchill Direct Lending from $15.50 to $14.75 and set a “neutral” rating on the stock in a research report on Monday, May 18th. Truist Financial cut their price target on Nuveen Churchill Direct Lending from $18.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Finally, Zacks Research lowered Nuveen Churchill Direct Lending from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 26th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $15.15.

Nuveen Churchill Direct Lending Stock Performance

The company has a market cap of $598.31 million, a price-to-earnings ratio of 10.05 and a beta of 0.51. The stock’s fifty day simple moving average is $13.38 and its two-hundred day simple moving average is $13.53.

Nuveen Churchill Direct Lending (NYSE:NCDL) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The firm had revenue of $17.15 million for the quarter, compared to analyst estimates of $47.79 million. Nuveen Churchill Direct Lending had a return on equity of 9.80% and a net margin of 29.56%. Analysts predict that Nuveen Churchill Direct Lending Corp. will post 1.6 EPS for the current fiscal year.

Nuveen Churchill Direct Lending Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders 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 annualized dividend and a yield of 11.9%. Nuveen Churchill Direct Lending’s dividend payout ratio is currently 120.00%.

Insider Transactions at Nuveen Churchill Direct Lending

In other Nuveen Churchill Direct Lending news, Treasurer Shaul Vichness purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average price 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Marissa Hassen acquired 3,782 shares of the firm’s stock in a transaction on 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 purchase, the chief accounting officer owned 9,780 shares of the company’s stock, valued at $129,193.80. This trade represents a 63.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Nuveen Churchill Direct Lending

A number of hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its holdings in shares of Nuveen Churchill Direct Lending by 190.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,400 shares of the company’s stock valued at $33,000 after acquiring an additional 1,573 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Nuveen Churchill Direct Lending in the 3rd quarter valued at $38,000. NewEdge Advisors LLC raised its position 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 purchasing an additional 1,118 shares during the period. Quadrant Capital Group LLC purchased a new position in Nuveen Churchill Direct Lending in the third quarter valued at about $80,000. Finally, State of Wyoming acquired a new position in shares of Nuveen Churchill Direct Lending during the second quarter worth about $108,000.

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.