Nuveen Churchill Direct Lending (NYSE:NCDL) Sets New 1-Year Low – Time to Sell?

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL)’s stock price hit a new 52-week low during mid-day trading on Monday. The stock traded as low as $11.58 and last traded at $11.66, with a volume of 6482 shares changing hands. The stock had previously closed at $11.70.

Wall Street Analysts Forecast Growth

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

Nuveen Churchill Direct Lending Stock Down 1.6%

The company has a market cap of $568.87 million, a P/E ratio of 12.15 and a beta of 0.52. The company’s 50-day moving average is $12.34 and its two-hundred day moving average is $12.87.

Nuveen Churchill Direct Lending (NYSE:NCDL) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $11.14 million for the quarter, compared to analyst estimates of $46.72 million. Nuveen Churchill Direct Lending had a net margin of 24.44% and a return on equity of 9.60%. On average, analysts anticipate that Nuveen Churchill Direct Lending Corp. will post 1.6 EPS for the current fiscal year.

Nuveen Churchill Direct Lending Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 27th. Investors of record on Wednesday, September 30th will be paid a $0.36 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.44 annualized dividend and a yield of 12.5%. Nuveen Churchill Direct Lending’s dividend 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. Centurion Wealth Management LLC purchased a new stake in shares of Nuveen Churchill Direct Lending during the 2nd quarter valued at approximately $3,879,000. Hennion & Walsh Asset Management Inc. grew its stake in Nuveen Churchill Direct Lending by 2.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 442,680 shares of the company’s stock valued at $5,498,000 after buying an additional 12,646 shares in the last quarter. Bank of America Corp DE raised its holdings in Nuveen Churchill Direct Lending by 23.3% during the 1st quarter. Bank of America Corp DE now owns 147,909 shares of the company’s stock valued at $1,881,000 after acquiring an additional 27,970 shares during the period. Renaissance Technologies LLC lifted its position in shares of Nuveen Churchill Direct Lending by 28.7% during the first quarter. Renaissance Technologies LLC now owns 152,024 shares of the company’s stock worth $1,934,000 after acquiring an additional 33,918 shares in the last quarter. Finally, Lido Advisors LLC lifted its position in shares of Nuveen Churchill Direct Lending by 19.9% during the first quarter. Lido Advisors LLC now owns 53,788 shares of the company’s stock worth $705,000 after acquiring an additional 8,932 shares in the last quarter.

Nuveen Churchill Direct Lending Company Profile

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.