Vise Technologies Inc. Acquires New Position in Nuveen Churchill Direct Lending Corp. $NCDL

Key Points

• Vise Technologies Inc. disclosed a new fourth-quarter stake in Nuveen Churchill Direct Lending, buying 95,252 shares worth about $1.27 million and representing roughly 0.19% of the company.
• Several insiders bought shares recently, including Treasurer Shaul Vichness and CAO Marissa Hassen, while insiders overall purchased 13,782 shares worth $181,610 over the past 90 days.
• NCDL has faced mixed to bearish analyst sentiment, with recent downgrades and a consensus rating of Hold, even as the stock traded near $12.65 and the company maintained an 11.4% dividend yield.

Vise Technologies Inc. acquired a new stake in shares of Nuveen Churchill Direct Lending Corp. (NYSE:NCDL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 95,252 shares of the company's stock, valued at approximately $1,271,000. Vise Technologies Inc. owned about 0.19% of Nuveen Churchill Direct Lending as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of NCDL. BNP Paribas Financial Markets grew its position in shares of Nuveen Churchill Direct Lending by 190.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,400 shares of the company's stock valued at $33,000 after buying an additional 1,573 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Nuveen Churchill Direct Lending during the 3rd quarter valued at about $38,000. NewEdge Advisors LLC grew its position in shares of Nuveen Churchill Direct Lending by 33.0% during the 2nd quarter. NewEdge Advisors LLC now owns 4,511 shares of the company's stock valued at $73,000 after buying an additional 1,118 shares during the last quarter. Quadrant Capital Group LLC bought a new stake in shares of Nuveen Churchill Direct Lending during the 3rd quarter valued at about $80,000. Finally, State of Wyoming grew its position in shares of Nuveen Churchill Direct Lending by 16.4% during the 3rd quarter. State of Wyoming now owns 7,739 shares of the company's stock valued at $107,000 after buying an additional 1,090 shares during the last quarter.

Insider Buying and Selling

In related news, Treasurer Shaul Vichness purchased 5,000 shares of Nuveen Churchill Direct Lending stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of $13.20 per share, with a total value of $66,000.00. Following the purchase, the treasurer owned 30,705 shares in the company, valued at approximately $405,306. The trade was a 19.45% increase in their position. The acquisition 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 that occurred on Tuesday, May 12th. The shares were acquired at an average cost of $13.21 per share, with a total value of $49,960.22. Following the completion of the purchase, the chief accounting officer owned 9,780 shares of the company's stock, valued at approximately $129,193.80. The trade was a 63.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders bought 13,782 shares of company stock valued at $181,610. Company insiders own 0.68% of the company's stock.

Analyst Upgrades and Downgrades

NCDL has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Nuveen Churchill Direct Lending from a "hold" rating to a "sell" rating in a research report on Saturday. Truist Financial decreased their target price 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 cut 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 decreased their target price 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. Finally, UBS Group decreased their target price 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 analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $15.35.

Nuveen Churchill Direct Lending Trading Down 0.9%

Shares of NYSE:NCDL opened at $12.65 on Tuesday. The company has a 50 day moving average of $13.47 and a 200-day moving average of $13.66. The firm has a market cap of $624.78 million, a P/E ratio of 10.54 and a beta of 0.51. Nuveen Churchill Direct Lending Corp. has a twelve month low of $12.43 and a twelve month high of $17.27.

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

Nuveen Churchill Direct Lending Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Tuesday, June 30th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.4%. The ex-dividend date of this dividend is Tuesday, June 30th. Nuveen Churchill Direct Lending's dividend payout ratio is currently 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.

Want to see what other hedge funds are holding NCDL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nuveen Churchill Direct Lending Corp. (NYSE:NCDL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.