Beacon Bridge Wealth Partners LLC Sells 54,289 Shares of 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 lessened its holdings in shares of Nuveen Churchill Direct Lending Corp. (NYSE:NCDL - Free Report) by 62.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of NCDL. Tower Research Capital LLC TRC bought a new stake in shares of Nuveen Churchill Direct Lending during the 4th quarter valued at $48,000. NewEdge Advisors LLC boosted its stake in Nuveen Churchill Direct Lending by 680.1% in the 4th quarter. NewEdge Advisors LLC now owns 3,300 shares of the company's stock worth $55,000 after purchasing an additional 2,877 shares in the last quarter. Graybill Wealth Management LTD. bought a new position in Nuveen Churchill Direct Lending in the 1st quarter worth about $115,000. OneAscent Wealth Management LLC bought a new position in Nuveen Churchill Direct Lending in the 4th quarter worth about $171,000. Finally, Two Sigma Advisers LP bought a new position in Nuveen Churchill Direct Lending in the 4th quarter worth about $186,000.

Nuveen Churchill Direct Lending Price Performance

NYSE NCDL opened at $16.87 on Monday. Nuveen Churchill Direct Lending Corp. has a 52 week low of $14.21 and a 52 week high of $18.01. The firm has a market capitalization of $848.22 million, a P/E ratio of 9.02 and a beta of 0.48. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 1.30. The company has a 50-day moving average price of $16.43 and a 200-day moving average price of $16.51.

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

Nuveen Churchill Direct Lending Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Monday, June 30th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 10.67%. The ex-dividend date of this dividend is Monday, June 30th. Nuveen Churchill Direct Lending's dividend payout ratio is 96.26%.

Insider Activity

In other news, CEO Kenneth J. Kencel bought 16,234 shares of Nuveen Churchill Direct Lending stock in a transaction that occurred on Monday, May 12th. The stock was bought at an average cost of $15.34 per share, with a total value of $249,029.56. Following the acquisition, the chief executive officer owned 28,117 shares of the company's stock, valued at $431,314.78. The trade was a 136.62% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mat Linett bought 3,000 shares of Nuveen Churchill Direct Lending stock in a transaction that occurred on Wednesday, May 21st. The stock was purchased at an average cost of $15.92 per share, with a total value of $47,760.00. Following the completion of the acquisition, the director directly owned 8,365 shares in the company, valued at $133,170.80. This represents a 55.92% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 27,337 shares of company stock valued at $426,945. 0.62% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NCDL. UBS Group upped their price target on shares of Nuveen Churchill Direct Lending from $16.50 to $17.50 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods dropped their price target on shares of Nuveen Churchill Direct Lending from $18.00 to $17.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company dropped their price target on shares of Nuveen Churchill Direct Lending from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 13th. Wall Street Zen upgraded shares of Nuveen Churchill Direct Lending from a "sell" rating to a "hold" rating in a research note on Sunday, July 20th. Finally, JMP Securities lowered their target price on shares of Nuveen Churchill Direct Lending from $18.50 to $18.00 and set a "market outperform" rating on the stock in a research note on Tuesday, June 24th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Nuveen Churchill Direct Lending presently has an average rating of "Hold" and an average price target of $16.63.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.