Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts are cautious on NCDL: The stock has a consensus rating of “Hold” from six covering firms, with an average 12-month price target of $15.35. Ratings are mixed, including one sell, three holds, and two buys.
• Recent earnings missed estimates: Nuveen Churchill Direct Lending reported $0.41 EPS versus the expected $0.42, and revenue came in well below forecasts at $17.15 million compared with $47.79 million expected. The company’s dividend remains high, with a quarterly payout of $0.36 per share for an annualized yield of 11.0%.
• Insiders have been buying shares: Recent purchases include Treasurer Shaul Vichness buying 5,000 shares and VP John Mccally buying 2,000 shares. Insiders bought 56,329 shares in the last quarter, suggesting some internal confidence despite the cautious analyst view.

Shares of Nuveen Churchill Direct Lending Corp. (NYSE:NCDL - Get Free Report) have earned a consensus recommendation of "Hold" from the six research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $15.35.

A number of brokerages have recently issued reports on NCDL. Zacks Research lowered shares of Nuveen Churchill Direct Lending from a "hold" rating to a "strong sell" rating in a research note on Tuesday, May 26th. Keefe, Bruyette & Woods dropped their price target on shares of Nuveen Churchill Direct Lending from $16.00 to $15.00 and set a "market perform" rating on the stock in a research note on Friday, February 27th. Truist Financial dropped their price target on shares of Nuveen Churchill Direct Lending from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Wednesday, March 4th. Wall Street Zen upgraded shares of Nuveen Churchill Direct Lending from a "sell" rating to a "hold" rating in a research note on Sunday, May 17th. Finally, Wells Fargo & Company dropped their price target 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 note on Wednesday, March 4th.

Insider Activity

In related news, Treasurer Shaul Vichness acquired 5,000 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average price of $13.20 per share, with a total value of $66,000.00. Following the completion of the acquisition, the treasurer owned 30,705 shares in the company, valued at approximately $405,306. This represents a 19.45% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP John Mccally acquired 2,000 shares of the firm's stock in a transaction that occurred on Thursday, March 5th. The shares were bought at an average cost of $13.30 per share, for a total transaction of $26,600.00. Following the acquisition, the vice president owned 7,430 shares of the company's stock, valued at $98,819. This represents a 36.83% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 56,329 shares of company stock valued at $751,066 in the last quarter. Insiders own 0.68% of the company's stock.

Institutional Trading of Nuveen Churchill Direct Lending

Institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG boosted its holdings 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 worth $9,192,000 after buying an additional 196,956 shares in the last quarter. MQS Management LLC purchased a new stake in Nuveen Churchill Direct Lending during the third quarter worth about $604,000. Hennion & Walsh Asset Management Inc. boosted its holdings in Nuveen Churchill Direct Lending by 14.5% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 479,357 shares of the company's stock worth $6,395,000 after buying an additional 60,786 shares in the last quarter. Callodine Capital Management LP lifted its holdings in shares of Nuveen Churchill Direct Lending by 9.1% in the third quarter. Callodine Capital Management LP now owns 572,800 shares of the company's stock valued at $7,905,000 after purchasing an additional 47,800 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Nuveen Churchill Direct Lending by 2.7% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 27,149 shares of the company's stock valued at $375,000 after purchasing an additional 723 shares in the last quarter.

Nuveen Churchill Direct Lending Stock Up 0.7%

Shares of Nuveen Churchill Direct Lending stock opened at $13.07 on Friday. Nuveen Churchill Direct Lending has a 52-week low of $12.43 and a 52-week high of $17.27. The company's 50-day simple moving average is $13.50 and its 200-day simple moving average is $13.72. The firm has a market cap of $645.53 million, a price-to-earnings ratio of 10.89 and a beta of 0.63.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). Nuveen Churchill Direct Lending had a return on equity of 9.80% and a net margin of 29.56%.The firm had revenue of $17.15 million for the quarter, compared to analyst estimates of $47.79 million. Equities research analysts anticipate that Nuveen Churchill Direct Lending will post 1.6 EPS for the current year.

Nuveen Churchill Direct Lending Announces Dividend

The company 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 dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.0%. The ex-dividend date is Tuesday, June 30th. Nuveen Churchill Direct Lending's payout ratio is 120.00%.

Nuveen Churchill Direct Lending Company 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.

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