Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) Receives Average Recommendation of "Reduce" from Brokerages

Key Points

• Nuveen Churchill Direct Lending has an average analyst recommendation of "Reduce", with two sell ratings, two hold ratings, and one buy rating; the average 1-year price target is $14.44.
• The company recently posted Q1 earnings of $0.41 per share, missing estimates by a penny, while revenue came in well below analyst expectations at $17.15 million.
• NCDL declared a quarterly dividend of $0.36 per share, implying an annualized yield of 11.7%; the payout ratio is currently 120%.

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL - Get Free Report) has earned an average recommendation of "Reduce" from the five analysts that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $14.4375.

Several equities research analysts have recently weighed in on the company. Wall Street Zen downgraded Nuveen Churchill Direct Lending from a "hold" rating to a "sell" rating in a research report on Saturday, June 6th. Truist Financial reduced their price target on 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. Zacks Research cut Nuveen Churchill Direct Lending from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 26th. Keefe, Bruyette & Woods lowered their price objective 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 dropped their price objective on shares of Nuveen Churchill Direct Lending from $15.50 to $14.75 and set a "neutral" rating on the stock in a research note on Monday, May 18th.

Insider Buying and Selling

In other Nuveen Churchill Direct Lending news, Treasurer Shaul Vichness bought 5,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of $13.20 per share, for a total transaction of $66,000.00. Following the completion of the purchase, the treasurer directly owned 30,705 shares of the company's stock, valued at approximately $405,306. The trade was a 19.45% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP John Mccally bought 7,500 shares of the company's stock in a transaction dated Friday, May 15th. The shares were acquired at an average cost of $13.27 per share, for a total transaction of $99,525.00. Following the completion of the transaction, the vice president owned 15,245 shares of the company's stock, valued at approximately $202,301.15. The trade was a 96.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 16,282 shares of company stock valued at $215,485 in the last quarter. Company insiders own 0.68% of the company's stock.

Institutional Investors Weigh In On Nuveen Churchill Direct Lending

Hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets increased its holdings in 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 worth $33,000 after purchasing an additional 1,573 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Nuveen Churchill Direct Lending during the third quarter worth approximately $38,000. NewEdge Advisors LLC grew its position in shares of Nuveen Churchill Direct Lending by 33.0% during the second quarter. NewEdge Advisors LLC now owns 4,511 shares of the company's stock worth $73,000 after buying an additional 1,118 shares in the last quarter. Quadrant Capital Group LLC bought a new stake in shares of Nuveen Churchill Direct Lending in the third quarter worth $80,000. Finally, State of Wyoming bought a new stake in shares of Nuveen Churchill Direct Lending in the second quarter worth $108,000.

Nuveen Churchill Direct Lending Stock Up 0.5%

NCDL opened at $12.28 on Thursday. Nuveen Churchill Direct Lending has a 52-week low of $11.97 and a 52-week high of $17.27. The company has a 50 day moving average of $13.30 and a two-hundred day moving average of $13.48. The company has a market cap of $606.26 million, a P/E ratio of 10.23 and a beta of 0.50.

Nuveen Churchill Direct Lending (NYSE:NCDL - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). Nuveen Churchill Direct Lending had a net margin of 29.56% and a return on equity of 9.80%. The business had revenue of $17.15 million for the quarter, compared to analyst estimates of $47.79 million. Research analysts anticipate that Nuveen Churchill Direct Lending will post 1.6 earnings per share 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. Investors of record on Tuesday, June 30th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 11.7%. The ex-dividend date of this dividend is Tuesday, June 30th. Nuveen Churchill Direct Lending's dividend payout ratio (DPR) is presently 120.00%.

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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