Goldman Sachs Group Inc. Trims Holdings in Nuveen Churchill Direct Lending Corp. $NCDL

Key Points

• Goldman Sachs reduced its stake in Nuveen Churchill Direct Lending Corp. by 39.3%, owning approximately 0.45% of the company after selling 148,268 shares.
• Nuveen Churchill Direct Lending announced a quarterly dividend of $0.45 per share, offering an annualized dividend yield of 12.0%.
• Analyst ratings for Nuveen Churchill Direct Lending show a consensus "Hold" rating, with price targets varying between $17.50 and $16.00.

Goldman Sachs Group Inc. trimmed its stake in Nuveen Churchill Direct Lending Corp. (NYSE:NCDL - Free Report) by 39.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 228,603 shares of the company's stock after selling 148,268 shares during the period. Goldman Sachs Group Inc. owned about 0.45% of Nuveen Churchill Direct Lending worth $3,882,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in NCDL. Nuveen LLC purchased a new stake in shares of Nuveen Churchill Direct Lending in the 1st quarter valued at approximately $8,292,000. Millennium Management LLC grew its holdings in shares of Nuveen Churchill Direct Lending by 361.6% in the fourth quarter. Millennium Management LLC now owns 437,992 shares of the company's stock valued at $7,350,000 after purchasing an additional 343,113 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Nuveen Churchill Direct Lending by 364.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 342,773 shares of the company's stock valued at $5,820,000 after purchasing an additional 268,968 shares in the last quarter. Callodine Capital Management LP grew its holdings in shares of Nuveen Churchill Direct Lending by 42.7% in the first quarter. Callodine Capital Management LP now owns 500,000 shares of the company's stock valued at $8,490,000 after purchasing an additional 149,611 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in shares of Nuveen Churchill Direct Lending by 244.4% in the fourth quarter. Two Sigma Investments LP now owns 153,150 shares of the company's stock valued at $2,570,000 after purchasing an additional 108,677 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts recently weighed in on NCDL shares. Wall Street Zen upgraded shares of Nuveen Churchill Direct Lending from a "sell" rating to a "hold" rating in a report on Sunday, July 20th. JMP Securities dropped their price objective on shares of Nuveen Churchill Direct Lending from $18.50 to $18.00 and set a "market outperform" rating for the company in a report on Tuesday, June 24th. Finally, 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. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $16.63.

Insider Buying and Selling at Nuveen Churchill Direct Lending

In related news, Treasurer Shaul Vichness purchased 5,000 shares of the stock in a transaction dated Tuesday, September 16th. The shares were acquired at an average cost of $14.85 per share, with a total value of $74,250.00. Following the purchase, the treasurer directly owned 15,000 shares in the company, valued at $222,750. This trade represents a 50.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.62% of the stock is currently owned by company insiders.

Nuveen Churchill Direct Lending Stock Up 0.9%

Shares of Nuveen Churchill Direct Lending stock opened at $14.95 on Thursday. The company has a market cap of $738.38 million, a P/E ratio of 8.21 and a beta of 0.47. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.13 and a current ratio of 1.13. Nuveen Churchill Direct Lending Corp. has a one year low of $14.21 and a one year high of $18.01. The firm has a fifty day moving average of $16.17 and a two-hundred day moving average of $16.18.

Nuveen Churchill Direct Lending (NYSE:NCDL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.46 EPS for the quarter, hitting analysts' consensus estimates of $0.46. Nuveen Churchill Direct Lending had a net margin of 43.35% and a return on equity of 11.88%. The company had revenue of $53.13 million during the quarter, compared to the consensus estimate of $54.41 million. On average, analysts forecast that Nuveen Churchill Direct Lending Corp. will post 2.28 earnings per share for the current year.

Nuveen Churchill Direct Lending Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 28th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 12.0%. Nuveen Churchill Direct Lending's dividend payout ratio is 98.90%.

Nuveen Churchill Direct Lending 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.

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