Callodine Capital Management LP Has $5.72 Million Stake in Nuveen Churchill Direct Lending Corp. $NCDL

Callodine Capital Management LP lowered its holdings in Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) by 18.1% in the first quarter, HoldingsChannel.com reports. The firm owned 450,000 shares of the company’s stock after selling 99,369 shares during the quarter. Callodine Capital Management LP’s holdings in Nuveen Churchill Direct Lending were worth $5,724,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Invesco Ltd. increased its holdings in shares of Nuveen Churchill Direct Lending by 2,179.1% during the fourth quarter. Invesco Ltd. now owns 742,296 shares of the company’s stock worth $9,902,000 after purchasing an additional 709,727 shares during the period. Closed End Fund Advisors Inc. bought a new stake in shares of Nuveen Churchill Direct Lending in the fourth quarter valued at approximately $7,374,000. Ares Management LLC boosted its stake in shares of Nuveen Churchill Direct Lending by 188.3% in 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 during the period. Brown Brothers Harriman & Co. boosted its stake in shares of Nuveen Churchill Direct Lending by 213.1% in 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 during the period. Finally, UBS Group AG grew 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 worth $9,192,000 after buying an additional 196,956 shares in the last quarter.

Analysts Set New Price Targets

NCDL has been the topic of a number of recent research reports. Wall Street Zen upgraded Nuveen Churchill Direct Lending from a “sell” rating to a “hold” rating in a research note on Saturday. UBS Group cut their target price on Nuveen Churchill Direct Lending from $15.50 to $14.75 and set a “neutral” rating for the company in a research report on Monday, May 18th. Zacks Research raised Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. Finally, Wells Fargo & Company cut Nuveen Churchill Direct Lending from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $13.00 to $12.00 in a research report on Friday, June 12th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $14.44.

Nuveen Churchill Direct Lending Trading Up 0.3%

Shares of Nuveen Churchill Direct Lending stock opened at $12.14 on Friday. The company has a 50 day moving average of $12.69 and a 200-day moving average of $13.26. Nuveen Churchill Direct Lending Corp. has a 1-year low of $11.97 and a 1-year high of $17.11. The company has a market cap of $599.84 million, a PE ratio of 10.12 and a beta of 0.51.

Nuveen Churchill Direct Lending (NYSE:NCDL) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). The firm had revenue of $17.15 million for the quarter, compared to analyst estimates of $47.79 million. Nuveen Churchill Direct Lending had a return on equity of 9.80% and a net margin of 29.56%. Research analysts forecast that Nuveen Churchill Direct Lending Corp. will post 1.6 earnings per share for the current year.

Nuveen Churchill Direct Lending Dividend Announcement

The firm 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 $0.36 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.44 annualized dividend and a dividend yield of 11.9%. Nuveen Churchill Direct Lending’s dividend payout ratio (DPR) is presently 120.00%.

Insider Activity

In other Nuveen Churchill Direct Lending news, VP John Mccally purchased 7,500 shares of the stock in a transaction dated Friday, May 15th. The stock was bought at an average price of $13.27 per share, with a total value of $99,525.00. Following the acquisition, the vice president owned 15,245 shares of the company’s stock, valued at approximately $202,301.15. This represents a 96.84% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Marissa Hassen purchased 3,782 shares of the stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average cost of $13.21 per share, with a total value of $49,960.22. Following the acquisition, the chief accounting officer directly owned 9,780 shares in the company, valued at $129,193.80. This represents a 63.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have acquired 16,282 shares of company stock worth $215,485. Insiders own 0.68% of the company’s stock.

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.