Y Intercept Hong Kong Ltd Invests $279,000 in Nuveen Churchill Direct Lending Corp. (NYSE:NCDL)

Key Points

• Y Intercept Hong Kong Ltd has recently invested approximately $279,000 in Nuveen Churchill Direct Lending Corp. by acquiring 16,412 shares of its stock.
• Multiple institutional investors, including JPMorgan Chase & Co. and Millennium Management LLC, have significantly increased their stakes in Nuveen Churchill Direct Lending during the fourth quarter.
• The company recently announced a quarterly dividend of $0.45 per share, representing an annualized yield of 10.87% and a payout ratio of 96.26%.

Y Intercept Hong Kong Ltd acquired a new position in shares of Nuveen Churchill Direct Lending Corp. (NYSE:NCDL - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 16,412 shares of the company's stock, valued at approximately $279,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of NCDL. JPMorgan Chase & Co. raised its stake in shares of Nuveen Churchill Direct Lending by 94.3% in the 4th quarter. JPMorgan Chase & Co. now owns 751,442 shares of the company's stock valued at $12,609,000 after purchasing an additional 364,739 shares in the last quarter. Millennium Management LLC raised its stake in shares of Nuveen Churchill Direct Lending by 361.6% in the 4th 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. Snowden Capital Advisors LLC boosted its holdings in Nuveen Churchill Direct Lending by 100.1% in the fourth quarter. Snowden Capital Advisors LLC now owns 419,541 shares of the company's stock worth $7,271,000 after purchasing an additional 209,823 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in 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 worth $5,820,000 after purchasing an additional 268,968 shares during the period. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in Nuveen Churchill Direct Lending by 40.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 297,087 shares of the company's stock worth $5,045,000 after purchasing an additional 85,498 shares during the period.

Nuveen Churchill Direct Lending Stock Performance

NCDL traded down $0.23 during trading on Friday, hitting $16.13. The stock had a trading volume of 155,913 shares, compared to its average volume of 141,940. The firm has a market cap of $811.02 million, a PE ratio of 8.63 and a beta of 0.48. Nuveen Churchill Direct Lending Corp. has a 12 month low of $14.21 and a 12 month high of $18.01. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 1.30. The company has a 50 day simple moving average of $16.49 and a 200-day simple moving average of $16.51.

Nuveen Churchill Direct Lending (NYSE:NCDL - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.53 earnings per share for the quarter, missing analysts' consensus estimates of $0.57 by ($0.04). Nuveen Churchill Direct Lending had a net margin of 44.83% and a return on equity of 12.42%. The company had revenue of $53.59 million during the quarter, compared to the consensus estimate of $56.01 million. Analysts expect that Nuveen Churchill Direct Lending Corp. will post 2.28 EPS for the current year.

Nuveen Churchill Direct Lending Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 28th. Shareholders of record on Monday, June 30th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 11.2%. The ex-dividend date of this dividend was Monday, June 30th. Nuveen Churchill Direct Lending's payout ratio is 96.26%.

Wall Street Analyst Weigh In

NCDL has been the subject of several research reports. Keefe, Bruyette & Woods decreased their price target on shares of Nuveen Churchill Direct Lending from $18.00 to $17.00 and set a "market perform" rating for the company in a report on Tuesday, April 8th. UBS Group boosted their target price on shares of Nuveen Churchill Direct Lending from $16.50 to $17.50 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. 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 lowered their target price on 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. Finally, JMP Securities reduced their target price on 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. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $16.63.

Insider Buying and Selling at Nuveen Churchill Direct Lending

In other Nuveen Churchill Direct Lending news, Director Kenneth M. Miranda purchased 3,103 shares of the stock in a transaction on Friday, May 23rd. The shares were purchased at an average price of $15.68 per share, with a total value of $48,655.04. Following the acquisition, the director directly owned 3,103 shares of the company's stock, valued at $48,655.04. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Kenneth J. Kencel acquired 16,234 shares of the business's stock in a transaction on Monday, May 12th. The shares were bought at an average cost of $15.34 per share, with a total value of $249,029.56. Following the completion of the acquisition, the chief executive officer owned 28,117 shares of the company's stock, valued at approximately $431,314.78. This trade represents a 136.62% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 27,337 shares of company stock worth $426,945. Corporate insiders own 0.62% of the company's stock.

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.