Nuveen LLC Makes New Investment in Nuveen Churchill Direct Lending Corp. $NCDL

Key Points

• Nuveen LLC has made a significant investment of $8.29 million in Nuveen Churchill Direct Lending Corp., acquiring approximately 488,341 shares, which represents about 0.95% ownership of the company.
• The company recently announced a quarterly dividend of $0.45 per share, resulting in an annualized yield of 11.3%, with payment set for October 28th.
• Analysts have mixed views on the stock, with upgrades from some and downgrades from others, leading to a consensus rating of "Hold" and an average price target of $16.63.

Nuveen LLC acquired a new position in Nuveen Churchill Direct Lending Corp. (NYSE:NCDL - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 488,341 shares of the company's stock, valued at approximately $8,292,000. Nuveen LLC owned approximately 0.95% of Nuveen Churchill Direct Lending as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC bought a new position in Nuveen Churchill Direct Lending in the fourth quarter worth approximately $48,000. NewEdge Advisors LLC raised its stake in Nuveen Churchill Direct Lending by 680.1% in the fourth quarter. NewEdge Advisors LLC now owns 3,300 shares of the company's stock worth $55,000 after buying an additional 2,877 shares in the last quarter. Graybill Wealth Management LTD. bought a new position in Nuveen Churchill Direct Lending in the first quarter worth approximately $115,000. Virtu Financial LLC bought a new position in Nuveen Churchill Direct Lending in the first quarter worth approximately $178,000. Finally, Aigen Investment Management LP purchased a new position in Nuveen Churchill Direct Lending in the first quarter worth $181,000.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on NCDL shares. 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. Wells Fargo & Company cut 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 report on Tuesday, May 13th. JMP Securities cut their price target on shares of Nuveen Churchill Direct Lending from $18.50 to $18.00 and set a "market outperform" rating on the stock in a report on Tuesday, June 24th. Finally, UBS Group lifted 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 report on Wednesday, July 16th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Nuveen Churchill Direct Lending currently has an average rating of "Hold" and a consensus price target of $16.63.

Insider Buying and Selling at Nuveen Churchill Direct Lending

In other news, Treasurer Shaul Vichness acquired 5,000 shares of the firm's stock in a transaction on Monday, June 16th. The stock was 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 owned 10,000 shares in the company, valued at approximately $163,000. The trade was a 100.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.62% of the company's stock.

Nuveen Churchill Direct Lending Stock Performance

NYSE:NCDL traded up $0.08 during mid-day trading on Friday, hitting $15.94. The company's stock had a trading volume of 93,617 shares, compared to its average volume of 117,364. Nuveen Churchill Direct Lending Corp. has a 1 year low of $14.21 and a 1 year high of $18.01. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market cap of $787.13 million, a price-to-earnings ratio of 8.76 and a beta of 0.48. The business's fifty day moving average is $16.41 and its two-hundred day moving average is $16.36.

Nuveen Churchill Direct Lending (NYSE:NCDL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.46 EPS for the quarter, meeting the consensus estimate 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 for the quarter, compared to analyst estimates of $54.41 million. Analysts anticipate that Nuveen Churchill Direct Lending Corp. will post 2.28 EPS for the current fiscal 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 given a $0.45 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 11.3%. Nuveen Churchill Direct Lending's dividend payout ratio is 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.