30,634 Shares in Nuveen Churchill Direct Lending Corp. $NCDL Purchased by Cresset Asset Management LLC

Key Points

• Cresset Asset Management LLC has invested $537,000 in Nuveen Churchill Direct Lending Corp. by acquiring 30,634 shares, representing about 0.06% of the company's total shares.
• Nuveen Churchill Direct Lending Corp. announced a quarterly dividend of $0.45 per share, resulting in an annualized yield of 11.3% and a payout ratio of 98.90%.
• Despite mixed analyst ratings, with a target price range between $14.00 and $17.50, the average rating for Nuveen Churchill Direct Lending remains a "Hold."

Cresset Asset Management LLC bought a new position in Nuveen Churchill Direct Lending Corp. (NYSE:NCDL - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 30,634 shares of the company's stock, valued at approximately $537,000. Cresset Asset Management LLC owned about 0.06% of Nuveen Churchill Direct Lending as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in NCDL. Nuveen LLC bought a new position in shares of Nuveen Churchill Direct Lending during the first quarter valued at approximately $8,292,000. Aigen Investment Management LP bought a new position in shares of Nuveen Churchill Direct Lending during the first quarter valued at approximately $181,000. Virtu Financial LLC bought a new position in shares of Nuveen Churchill Direct Lending during the first quarter valued at approximately $178,000. Entropy Technologies LP grew its stake in shares of Nuveen Churchill Direct Lending by 6.8% during the first quarter. Entropy Technologies LP now owns 12,025 shares of the company's stock valued at $204,000 after buying an additional 761 shares during the last quarter. Finally, XTX Topco Ltd grew its stake in shares of Nuveen Churchill Direct Lending by 48.0% during the first quarter. XTX Topco Ltd now owns 18,125 shares of the company's stock valued at $308,000 after buying an additional 5,880 shares during the last quarter.

Analysts Set New Price Targets

NCDL has been the topic of a number of research analyst reports. 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. UBS Group upped their target price 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. JMP Securities dropped 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. Finally, Wells Fargo & Company dropped their target price 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. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Nuveen Churchill Direct Lending has a consensus rating of "Hold" and a consensus price target of $16.63.

Insider Activity

In related news, Treasurer Shaul Vichness bought 5,000 shares of the company's stock in a transaction dated Monday, June 16th. The shares were acquired at an average price of $16.30 per share, for a total transaction of $81,500.00. Following the completion of the transaction, the treasurer directly owned 10,000 shares in the company, valued at $163,000. This trade represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.62% of the stock is currently owned by company insiders.

Nuveen Churchill Direct Lending Stock Down 0.4%

NCDL traded down $0.06 during trading on Thursday, hitting $15.85. The stock had a trading volume of 33,611 shares, compared to its average volume of 236,298. The company has a market capitalization of $782.78 million, a PE ratio of 8.72 and a beta of 0.48. Nuveen Churchill Direct Lending Corp. has a twelve month low of $14.21 and a twelve month high of $18.01. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a 50 day simple moving average of $16.44 and a two-hundred day simple moving average of $16.38.

Nuveen Churchill Direct Lending (NYSE:NCDL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.46 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.46. The business had revenue of $53.13 million during the quarter, compared to analysts' expectations of $54.41 million. Nuveen Churchill Direct Lending had a net margin of 43.35% and a return on equity of 11.88%. On average, research analysts predict 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 disclosed a quarterly dividend, which will be paid on Tuesday, October 28th. Shareholders of record on Tuesday, September 30th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.80 dividend on an annualized basis and a yield of 11.4%. Nuveen Churchill Direct Lending's payout ratio is presently 98.90%.

Nuveen Churchill Direct Lending Company Profile

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.