Beacon Bridge Wealth Partners LLC Cuts Position in Nuveen Churchill Direct Lending Corp. (NYSE:NCDL)

Key Points

• Beacon Bridge Wealth Partners LLC has reduced its holdings in Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) by 62.6%, selling 54,289 shares during the first quarter.
• Nuveen Churchill Direct Lending recently reported $0.53 EPS for the quarter, missing analyst expectations and had a net margin of 44.83%.
• The company announced a $0.45 quarterly dividend, translating to an annual yield of 10.67%, with a payout ratio of 96.26%.

Beacon Bridge Wealth Partners LLC lowered its stake in Nuveen Churchill Direct Lending Corp. (NYSE:NCDL - Free Report) by 62.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,432 shares of the company's stock after selling 54,289 shares during the period. Beacon Bridge Wealth Partners LLC owned 0.06% of Nuveen Churchill Direct Lending worth $551,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in NCDL. Commonwealth Equity Services LLC lifted its position in Nuveen Churchill Direct Lending by 98.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 24,880 shares of the company's stock valued at $417,000 after purchasing an additional 12,333 shares during the period. Sei Investments Co. acquired a new position in Nuveen Churchill Direct Lending during the fourth quarter valued at $309,000. LPL Financial LLC acquired a new position in Nuveen Churchill Direct Lending during the fourth quarter valued at $345,000. JPMorgan Chase & Co. lifted its position in Nuveen Churchill Direct Lending by 94.3% during the fourth quarter. JPMorgan Chase & Co. now owns 751,442 shares of the company's stock valued at $12,609,000 after purchasing an additional 364,739 shares during the period. Finally, Blair William & Co. IL lifted its position in Nuveen Churchill Direct Lending by 100.0% during the fourth quarter. Blair William & Co. IL now owns 20,965 shares of the company's stock valued at $352,000 after purchasing an additional 10,484 shares during the period.

Insider Activity at Nuveen Churchill Direct Lending

In other Nuveen Churchill Direct Lending news, Director Kenneth M. Miranda bought 3,103 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were purchased at an average cost of $15.68 per share, with a total value of $48,655.04. Following the purchase, the director directly owned 3,103 shares in the company, valued at approximately $48,655.04. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Treasurer Shaul Vichness acquired 5,000 shares of the company's stock in a transaction on Monday, June 16th. The stock was purchased at an average cost of $16.30 per share, for a total transaction of $81,500.00. Following the completion of the transaction, the treasurer owned 10,000 shares in the company, valued at approximately $163,000. The trade was a 100.00% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 27,337 shares of company stock valued at $426,945. 0.62% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on NCDL. JMP Securities decreased their target price on shares of Nuveen Churchill Direct Lending from $18.50 to $18.00 and set a "market outperform" rating for the company in a research report on Tuesday, June 24th. Keefe, Bruyette & Woods cut their price objective on shares of Nuveen Churchill Direct Lending from $18.00 to $17.00 and set a "market perform" rating for the company in a report on Tuesday, April 8th. UBS Group lifted their price objective on shares of Nuveen Churchill Direct Lending from $16.50 to $17.50 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Wells Fargo & Company cut their price objective on shares of Nuveen Churchill Direct Lending from $15.00 to $14.00 and set an "equal weight" rating for the company in a report on Tuesday, May 13th. Finally, Wall Street Zen raised shares of Nuveen Churchill Direct Lending from a "sell" rating to a "hold" rating in a report on Sunday, July 20th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Nuveen Churchill Direct Lending currently has a consensus rating of "Hold" and an average target price of $16.63.

Nuveen Churchill Direct Lending Price Performance

Shares of NCDL stock traded down $0.11 on Thursday, reaching $16.37. 44,148 shares of the company were exchanged, compared to its average volume of 252,376. The company has a market cap of $823.00 million, a price-to-earnings ratio of 8.75 and a beta of 0.48. The business has a 50-day moving average price of $16.46 and a 200 day moving average price of $16.51. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.79 and a current ratio of 1.79. Nuveen Churchill Direct Lending Corp. has a 1 year low of $14.21 and a 1 year high of $18.01.

Nuveen Churchill Direct Lending (NYSE:NCDL - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.53 earnings per share for the quarter, missing analysts' consensus estimates of $0.57 by ($0.04). The business had revenue of $53.59 million for the quarter, compared to analyst estimates of $56.01 million. Nuveen Churchill Direct Lending had a return on equity of 12.42% and a net margin of 44.83%. Equities research analysts forecast that Nuveen Churchill Direct Lending Corp. will post 2.28 earnings per share for the current fiscal year.

Nuveen Churchill Direct Lending Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 28th. Stockholders of record on Monday, June 30th were issued a $0.45 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.80 annualized dividend and a dividend yield of 11.00%. Nuveen Churchill Direct Lending's dividend payout ratio is currently 96.26%.

About Nuveen Churchill Direct Lending

Nuveen Churchill Direct Lending Corp. is a specialty finance company focused primarily on investing in senior secured loans to private equity-owned U.S. middle market companies. It has elected to be regulated as a business development company. Nuveen Churchill Direct Lending Corp. is based in NEW YORK.