BI Asset Management Fondsmaeglerselskab A S Acquires 123,327 Shares of Nuveen Churchill Direct Lending Corp. $NCDL

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in Nuveen Churchill Direct Lending by 454.3% in the fourth quarter, ending with 150,476 shares worth about $2.0 million.
• Analyst sentiment on NCDL is mixed but leans cautious: the stock has a consensus rating of Hold with a target price of $15.35, while several firms recently trimmed price targets and Zacks cut the stock to strong sell.
• The company reported Q1 earnings of $0.41 per share, missing estimates, and declared a quarterly dividend of $0.36 per share, implying an annualized yield of about 11.4%.

BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Nuveen Churchill Direct Lending Corp. (NYSE:NCDL - Free Report) by 454.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 150,476 shares of the company's stock after purchasing an additional 123,327 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned about 0.30% of Nuveen Churchill Direct Lending worth $2,007,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UBS Group AG boosted its position in Nuveen Churchill Direct Lending by 40.0% during the fourth quarter. UBS Group AG now owns 689,050 shares of the company's stock worth $9,192,000 after purchasing an additional 196,956 shares during the period. MQS Management LLC bought a new position in shares of Nuveen Churchill Direct Lending in the third quarter valued at approximately $604,000. Hennion & Walsh Asset Management Inc. boosted its position in shares of Nuveen Churchill Direct Lending by 14.5% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 479,357 shares of the company's stock valued at $6,395,000 after acquiring an additional 60,786 shares during the period. Callodine Capital Management LP boosted its position in shares of Nuveen Churchill Direct Lending by 9.1% in the third quarter. Callodine Capital Management LP now owns 572,800 shares of the company's stock valued at $7,905,000 after acquiring an additional 47,800 shares during the period. Finally, GRIMES & Co WEALTH MANAGEMENT LLC bought a new position in shares of Nuveen Churchill Direct Lending in the fourth quarter valued at approximately $164,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Truist Financial cut their price objective on shares of Nuveen Churchill Direct Lending from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Wednesday, March 4th. Zacks Research lowered shares of Nuveen Churchill Direct Lending from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 26th. Keefe, Bruyette & Woods cut their price objective on shares of Nuveen Churchill Direct Lending from $16.00 to $15.00 and set a "market perform" rating for the company in a research report on Friday, February 27th. Wells Fargo & Company cut their price objective on shares of Nuveen Churchill Direct Lending from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 4th. Finally, UBS Group cut their price objective on shares of 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. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $15.35.

Insider Activity at Nuveen Churchill Direct Lending

In other Nuveen Churchill Direct Lending news, Treasurer Shaul Vichness purchased 5,000 shares of the firm's stock in a transaction on Thursday, March 12th. The shares were purchased at an average cost of $13.13 per share, with a total value of $65,650.00. Following the completion of the purchase, the treasurer owned 25,000 shares of the company's stock, valued at $328,250. The trade was a 25.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Marissa Hassen bought 3,782 shares of the business's stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average price of $13.21 per share, for a total transaction of $49,960.22. Following the acquisition, the chief accounting officer directly owned 9,780 shares of the company's stock, valued at approximately $129,193.80. The trade was a 63.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 13,782 shares of company stock worth $181,610 over the last three months. Insiders own 0.68% of the company's stock.

Nuveen Churchill Direct Lending Stock Performance

NCDL stock opened at $12.65 on Tuesday. The company has a market capitalization of $624.78 million, a PE ratio of 10.54 and a beta of 0.51. Nuveen Churchill Direct Lending Corp. has a one year low of $12.43 and a one year high of $17.27. The company's 50 day moving average price is $13.47 and its two-hundred day moving average price is $13.66.

Nuveen Churchill Direct Lending (NYSE:NCDL - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). The business had revenue of $17.15 million for the quarter, compared to analysts' expectations of $47.79 million. Nuveen Churchill Direct Lending had a return on equity of 9.80% and a net margin of 29.56%. On average, research analysts predict that Nuveen Churchill Direct Lending Corp. will post 1.6 EPS for the current year.

Nuveen Churchill Direct Lending Announces Dividend

The firm 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 of this dividend is Tuesday, June 30th. This represents a $1.44 annualized dividend and a dividend yield of 11.4%. Nuveen Churchill Direct Lending's dividend payout ratio (DPR) is 120.00%.

Nuveen Churchill Direct Lending 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.

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