Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts give Nuveen Churchill Direct Lending a consensus "Hold" rating from six firms (four holds, two buys) with an average 1‑year price target of $15.50.
• The company recently paid a quarterly dividend of $0.36 (annualized $1.44), producing a 9.9% yield
• Insiders bought shares recently (VP and a director each purchased 2,000 shares) and institutional investors materially increased positions—insiders acquired 47,547 shares (~$635,105) while firms like Invesco, Ares and UBS boosted holdings.

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL - Get Free Report) has received a consensus recommendation of "Hold" from the six research firms that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $15.50.

Several equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Nuveen Churchill Direct Lending from a "sell" rating to a "hold" rating in a research note on Tuesday, March 10th. UBS Group raised their price target on shares of Nuveen Churchill Direct Lending from $14.75 to $15.50 and gave the stock a "neutral" rating in a research note on Monday, April 20th. Zacks Research raised shares of Nuveen Churchill Direct Lending from a "strong sell" rating to a "hold" rating in a research note on Friday, January 9th. Wells Fargo & Company decreased their target price on shares of Nuveen Churchill Direct Lending from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 4th. Finally, Truist Financial decreased their target price on shares of Nuveen Churchill Direct Lending from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Wednesday, March 4th.

Nuveen Churchill Direct Lending Price Performance

Nuveen Churchill Direct Lending stock opened at $14.57 on Wednesday. Nuveen Churchill Direct Lending has a 12-month low of $12.43 and a 12-month high of $17.27. The stock has a market capitalization of $719.51 million, a P/E ratio of 11.12 and a beta of 0.63. The firm's 50-day moving average is $13.51 and its two-hundred day moving average is $13.84. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.85 and a quick ratio of 1.85.

Nuveen Churchill Direct Lending (NYSE:NCDL - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. Nuveen Churchill Direct Lending had a net margin of 31.57% and a return on equity of 10.48%. The company had revenue of $26.36 million for the quarter, compared to analysts' expectations of $49.60 million. Equities analysts predict that Nuveen Churchill Direct Lending will post 1.66 earnings per share for the current year.

Nuveen Churchill Direct Lending Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, March 31st were given a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.44 annualized dividend and a dividend yield of 9.9%. Nuveen Churchill Direct Lending's dividend payout ratio (DPR) is currently 109.92%.

Insiders Place Their Bets

In related news, VP John Mccally bought 2,000 shares of the firm's stock in a transaction that occurred on Thursday, March 5th. The shares were acquired at an average cost of $13.30 per share, with a total value of $26,600.00. Following the completion of the transaction, the vice president owned 7,430 shares of the company's stock, valued at approximately $98,819. The trade was a 36.83% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mat Linett bought 2,000 shares of the firm's stock in a transaction that occurred on Friday, March 6th. The stock was bought at an average cost of $13.05 per share, for a total transaction of $26,100.00. Following the completion of the transaction, the director directly owned 10,365 shares of the company's stock, valued at approximately $135,263.25. The trade was a 23.91% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders acquired 47,547 shares of company stock valued at $635,105. 0.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nuveen Churchill Direct Lending

Several hedge funds have recently modified their holdings of NCDL. Invesco Ltd. boosted its position in shares of Nuveen Churchill Direct Lending by 2,179.1% in the fourth quarter. Invesco Ltd. now owns 742,296 shares of the company's stock worth $9,902,000 after acquiring an additional 709,727 shares during the last quarter. Closed End Fund Advisors Inc. acquired a new position in Nuveen Churchill Direct Lending during the fourth quarter valued at approximately $7,374,000. Ares Management LLC lifted its position in Nuveen Churchill Direct Lending by 188.3% during the fourth quarter. Ares Management LLC now owns 360,830 shares of the company's stock valued at $4,813,000 after buying an additional 235,674 shares in the last quarter. Brown Brothers Harriman & Co. lifted its position in Nuveen Churchill Direct Lending by 213.1% during the fourth quarter. Brown Brothers Harriman & Co. now owns 339,978 shares of the company's stock valued at $4,535,000 after buying an additional 231,400 shares in the last quarter. Finally, UBS Group AG lifted its position in Nuveen Churchill Direct Lending by 40.0% during the fourth quarter. UBS Group AG now owns 689,050 shares of the company's stock valued at $9,192,000 after buying an additional 196,956 shares in the last quarter.

About Nuveen Churchill Direct Lending

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.

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