Nuveen Churchill Direct Lending (NYSE:NCDL) Hits New 52-Week Low - Time to Sell?

Key Points

• NCDL shares fell to a new 52-week low of $11.94 and were last trading near $12.01, below both their 50-day and 200-day moving averages.
• Analyst sentiment is mixed, with two Buy, two Hold, and one Sell rating; the consensus is Hold with an average price target of $13.62.
• The company reported quarterly EPS of $0.41, ahead of estimates, and announced a $0.36 quarterly dividend, equivalent to a roughly 12% annualized yield—though its 151.58% payout ratio raises sustainability concerns.

Shares of Nuveen Churchill Direct Lending Corp. (NYSE:NCDL - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $11.94 and last traded at $12.0130, with a volume of 17484 shares changing hands. The stock had previously closed at $12.28.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NCDL shares. Wall Street Zen upgraded shares of Nuveen Churchill Direct Lending from a "sell" rating to a "hold" rating in a research note on Saturday, July 25th. UBS Group upgraded shares of Nuveen Churchill Direct Lending from a "neutral" rating to a "buy" rating and lowered their price target for the stock from $14.75 to $13.00 in a report on Tuesday, September 1st. Zacks Research raised shares of Nuveen Churchill Direct Lending from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 21st. Keefe, Bruyette & Woods decreased their price objective on shares of Nuveen Churchill Direct Lending from $15.00 to $13.50 and set a "market perform" rating for the company in a research report on Monday, August 10th. Finally, Wells Fargo & Company lowered Nuveen Churchill Direct Lending from an "equal weight" rating to an "underweight" rating and dropped their target price for the company from $13.00 to $12.00 in a report on Friday, June 12th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Nuveen Churchill Direct Lending presently has an average rating of "Hold" and an average target price of $13.62.

Nuveen Churchill Direct Lending Price Performance

The firm's 50 day simple moving average is $12.43 and its 200-day simple moving average is $12.92. The company has a market cap of $593.72 million, a price-to-earnings ratio of 12.66 and a beta of 0.52.

Nuveen Churchill Direct Lending (NYSE:NCDL - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.02. The firm had revenue of $11.14 million during the quarter, compared to analysts' expectations of $46.72 million. Nuveen Churchill Direct Lending had a return on equity of 9.60% and a net margin of 24.44%. On average, analysts forecast that Nuveen Churchill Direct Lending Corp. will post 1.6 EPS for the current year.

Nuveen Churchill Direct Lending Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 27th. Stockholders of record on Wednesday, September 30th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 12.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Nuveen Churchill Direct Lending's payout ratio is presently 151.58%.

Institutional Trading of Nuveen Churchill Direct Lending

A number of large investors have recently bought and sold shares of NCDL. Closed End Fund Advisors Inc. acquired a new stake in shares of Nuveen Churchill Direct Lending during the fourth quarter worth about $7,374,000. Centurion Wealth Management LLC acquired a new stake in Nuveen Churchill Direct Lending during the 2nd quarter worth approximately $3,879,000. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Nuveen Churchill Direct Lending by 454.3% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 150,476 shares of the company's stock valued at $2,007,000 after purchasing an additional 123,327 shares during the last quarter. Vise Technologies Inc. purchased a new position in shares of Nuveen Churchill Direct Lending in the 4th quarter valued at approximately $1,271,000. Finally, NewEdge Wealth LLC increased its holdings in shares of Nuveen Churchill Direct Lending by 199.3% in the first quarter. NewEdge Wealth LLC now owns 89,776 shares of the company's stock valued at $1,142,000 after purchasing an additional 59,777 shares during the period.

About Nuveen Churchill Direct Lending

Nuveen Churchill Direct Lending Corp. is a business development company (BDC) that provides financing to privately owned, middle-market companies. The company seeks to generate income primarily through investments in senior secured loans and other debt securities, while also pursuing capital appreciation through selected equity and equity-related investments.

Its portfolio generally consists of direct investments in companies operating across a range of industries, with an emphasis on established businesses that may require financing for acquisitions, recapitalizations, refinancings, growth initiatives, or other corporate purposes.

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