Nuveen Churchill Direct Lending (NYSE:NCDL) Director Kenneth Miranda Purchases 3,000 Shares of Stock

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) Director Kenneth Miranda bought 3,000 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was bought at an average price of $12.83 per share, for a total transaction of $38,490.00. Following the transaction, the director owned 30,000 shares of the company’s stock, valued at approximately $384,900. This trade represents a 11.11% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Nuveen Churchill Direct Lending Price Performance

Shares of NCDL traded down $0.14 during mid-day trading on Friday, hitting $13.16. 103,314 shares of the company were exchanged, compared to its average volume of 275,801. The stock has a market cap of $649.97 million, a price-to-earnings ratio of 10.05 and a beta of 0.44. Nuveen Churchill Direct Lending Corp. has a 1-year low of $12.54 and a 1-year high of $17.59. The company has a 50 day moving average of $13.56 and a 200-day moving average of $14.26. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.85 and a current ratio of 1.85.

Nuveen Churchill Direct Lending (NYSE:NCDL) last posted its quarterly earnings data 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 return on equity of 10.48% and a net margin of 31.57%.The company had revenue of $26.36 million for the quarter, compared to analysts’ expectations of $49.60 million. Analysts expect that Nuveen Churchill Direct Lending Corp. will post 2.28 EPS for the current fiscal year.

Nuveen Churchill Direct Lending Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, March 31st will be issued a $0.36 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.44 dividend on an annualized basis and a yield of 10.9%. Nuveen Churchill Direct Lending’s dividend payout ratio (DPR) is presently 137.40%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Nuveen Churchill Direct Lending by 2.7% in the 3rd 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 during the last quarter. Aprio Wealth Management LLC increased its position in shares of Nuveen Churchill Direct Lending by 0.7% during the third quarter. Aprio Wealth Management LLC now owns 114,174 shares of the company’s stock valued at $1,576,000 after acquiring an additional 742 shares during the last quarter. Modera Wealth Management LLC raised its stake in shares of Nuveen Churchill Direct Lending by 4.3% in the 3rd quarter. Modera Wealth Management LLC now owns 18,283 shares of the company’s stock valued at $252,000 after acquiring an additional 760 shares during the period. State of Wyoming lifted its holdings in shares of Nuveen Churchill Direct Lending by 16.4% in the 3rd quarter. State of Wyoming now owns 7,739 shares of the company’s stock worth $107,000 after acquiring an additional 1,090 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of Nuveen Churchill Direct Lending by 33.0% during the 2nd quarter. NewEdge Advisors LLC now owns 4,511 shares of the company’s stock worth $73,000 after purchasing an additional 1,118 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lowered 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 report on Wednesday. Truist Financial cut their price target on Nuveen Churchill Direct Lending from $18.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday. Zacks Research upgraded Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a research report on Friday, January 9th. Wall Street Zen lowered Nuveen Churchill Direct Lending from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods cut their target price on Nuveen Churchill Direct Lending from $16.00 to $15.00 and set a “market perform” rating for the company in a research note on Friday, February 27th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.40.

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.