Nuveen Churchill Direct Lending (NYSE:NCDL) Posts Quarterly Earnings Results
by Scott Moore · The Cerbat GemNuveen Churchill Direct Lending (NYSE:NCDL – Get Free Report) issued its earnings results on Thursday. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.24), FiscalAI reports. Nuveen Churchill Direct Lending had a net margin of 31.57% and a return on equity of 10.48%. The firm had revenue of $17.15 million during the quarter, compared to the consensus estimate of $47.79 million.
Nuveen Churchill Direct Lending Price Performance
Shares of NCDL stock traded down $0.62 during mid-day trading on Thursday, hitting $14.03. 147,882 shares of the stock were exchanged, compared to its average volume of 248,991. The firm has a fifty day moving average of $13.53 and a 200 day moving average of $13.85. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.27. Nuveen Churchill Direct Lending has a 52-week low of $12.43 and a 52-week high of $17.27. The company has a market cap of $693.04 million, a PE ratio of 10.71 and a beta of 0.63.
Nuveen Churchill Direct Lending Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 10.3%. The ex-dividend date of this dividend is Tuesday, June 30th. Nuveen Churchill Direct Lending’s dividend payout ratio is presently 109.92%.
Analysts Set New Price Targets
Several research analysts have recently issued reports on the company. Truist Financial decreased their target price on Nuveen Churchill Direct Lending from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Wall Street Zen raised Nuveen Churchill Direct Lending from a “sell” rating to a “hold” rating in a report on Tuesday, March 10th. Keefe, Bruyette & Woods reduced their target price on Nuveen Churchill Direct Lending from $16.00 to $15.00 and set a “market perform” rating on the stock in a report on Friday, February 27th. Zacks Research upgraded Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a research report on Friday, January 9th. Finally, UBS Group boosted their price target on Nuveen Churchill Direct Lending from $14.75 to $15.50 and gave the company a “neutral” rating in a report on Monday, April 20th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $15.50.
View Our Latest Research Report on Nuveen Churchill Direct Lending
Insider Transactions at Nuveen Churchill Direct Lending
In other news, Director James Joseph Ritchie purchased 17,857 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was acquired at an average price of $13.71 per share, for a total transaction of $244,819.47. Following the acquisition, the director directly owned 78,193 shares of the company’s stock, valued at approximately $1,072,026.03. This represents a 29.60% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth M. Miranda purchased 3,000 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were purchased at an average price of $12.83 per share, with a total value of $38,490.00. Following the acquisition, the director directly owned 30,000 shares in the company, valued at approximately $384,900. The trade was a 11.11% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 47,547 shares of company stock worth $635,105 in the last three months. 0.68% of the stock is owned by corporate insiders.
Institutional Trading of Nuveen Churchill Direct Lending
Several institutional investors have recently added to or reduced their stakes in the stock. BI Asset Management Fondsmaeglerselskab A S boosted its position in Nuveen Churchill Direct Lending by 3.2% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 26,426 shares of the company’s stock valued at $428,000 after buying an additional 807 shares during the period. NewEdge Advisors LLC increased its stake in Nuveen Churchill Direct Lending by 33.0% in the second quarter. NewEdge Advisors LLC now owns 4,511 shares of the company’s stock valued at $73,000 after purchasing an additional 1,118 shares during the period. BNP Paribas Financial Markets increased its stake in Nuveen Churchill Direct Lending by 190.2% in the third quarter. BNP Paribas Financial Markets now owns 2,400 shares of the company’s stock valued at $33,000 after purchasing an additional 1,573 shares during the period. Sei Investments Co. increased its stake in shares of Nuveen Churchill Direct Lending by 11.4% during the second quarter. Sei Investments Co. now owns 18,678 shares of the company’s stock worth $302,000 after acquiring an additional 1,918 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in shares of Nuveen Churchill Direct Lending in the third quarter valued at about $38,000.
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.