Nuveen Churchill Direct Lending Corp. (NYSE:NCDL – Get Free Report)’s share price was down 0.6% during trading on Friday . The company traded as low as $12.46 and last traded at $12.49. Approximately 159,228 shares changed hands during trading, an increase of 8% from the average daily volume of 147,059 shares. The stock had previously closed at $12.57.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on NCDL. Zacks Research raised shares of Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. Wall Street Zen upgraded Nuveen Churchill Direct Lending from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Keefe, Bruyette & Woods lowered their price objective on 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. Wells Fargo & Company cut Nuveen Churchill Direct Lending from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $13.00 to $12.00 in a research note on Friday, June 12th. Finally, UBS Group upgraded Nuveen Churchill Direct Lending from a “neutral” rating to a “buy” rating and reduced their target price for the company from $14.75 to $13.00 in a research report on Tuesday. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Nuveen Churchill Direct Lending currently has an average rating of “Hold” and a consensus price target of $13.62.
Get Our Latest Stock Analysis on Nuveen Churchill Direct Lending
Nuveen Churchill Direct Lending Price Performance
The company has a market cap of $616.84 million, a PE ratio of 13.15 and a beta of 0.52. The company’s 50 day simple moving average is $12.53 and its two-hundred day simple moving average is $13.02.
Nuveen Churchill Direct Lending (NYSE:NCDL – Get Free Report) last released its quarterly 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. Nuveen Churchill Direct Lending had a net margin of 24.44% and a return on equity of 9.60%. The business had revenue of $11.14 million for the quarter, compared to the consensus estimate of $46.72 million. Sell-side analysts expect that Nuveen Churchill Direct Lending Corp. will post 1.6 EPS for the current fiscal year.
Nuveen Churchill Direct Lending Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 27th. Investors of record on Wednesday, September 30th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 11.5%. The ex-dividend date is Wednesday, September 30th. Nuveen Churchill Direct Lending’s dividend payout ratio (DPR) is 151.58%.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the company. Centurion Wealth Management LLC purchased a new position in shares of Nuveen Churchill Direct Lending during the second quarter worth $3,879,000. Hennion & Walsh Asset Management Inc. raised its holdings in shares of 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 during the period. Bank of America Corp DE lifted its stake 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 worth $1,881,000 after acquiring an additional 27,970 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Nuveen Churchill Direct Lending by 28.7% during the 1st 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 boosted its holdings in Nuveen Churchill Direct Lending by 19.9% during the 1st quarter. Lido Advisors LLC now owns 53,788 shares of the company’s stock valued at $705,000 after acquiring an additional 8,932 shares during the period.
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.
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