NewEdge Wealth LLC boosted its holdings in shares of Nuveen Churchill Direct Lending Corp. (NYSE:NCDL – Free Report) by 199.3% in the first quarter, HoldingsChannel.com reports. The fund owned 89,776 shares of the company’s stock after buying an additional 59,777 shares during the quarter. NewEdge Wealth LLC’s holdings in Nuveen Churchill Direct Lending were worth $1,142,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of NCDL. Bulldog Investors LLP grew its holdings in Nuveen Churchill Direct Lending by 29.6% during the 1st quarter. Bulldog Investors LLP now owns 224,822 shares of the company’s stock valued at $2,860,000 after buying an additional 51,410 shares during the last quarter. NewGen Asset Management Ltd acquired a new stake in shares of Nuveen Churchill Direct Lending during the first quarter valued at $355,000. Nottingham Advisors Inc. acquired a new stake in shares of Nuveen Churchill Direct Lending during the first quarter valued at $308,000. BI Asset Management Fondsmaeglerselskab A S increased its position in Nuveen Churchill Direct Lending by 3.4% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 155,522 shares of the company’s stock worth $1,978,000 after purchasing an additional 5,046 shares in the last quarter. Finally, Virtu Financial LLC raised its stake in Nuveen Churchill Direct Lending by 181.2% in the 4th quarter. Virtu Financial LLC now owns 41,725 shares of the company’s stock valued at $557,000 after purchasing an additional 26,885 shares during the last quarter.
Insiders Place Their Bets
In other news, VP John Mccally acquired 7,500 shares of the business’s stock in a transaction on Friday, May 15th. The shares were purchased at an average price of $13.27 per share, for a total transaction of $99,525.00. Following the acquisition, the vice president directly owned 15,245 shares of the company’s stock, valued at $202,301.15. This represents a 96.84% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Treasurer Shaul Vichness acquired 5,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was purchased at an average cost of $13.20 per share, with a total value of $66,000.00. Following the completion of the transaction, the treasurer owned 30,705 shares in the company, valued at $405,306. The trade was a 19.45% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought 16,282 shares of company stock worth $215,485 in the last quarter. 0.68% of the stock is owned by corporate insiders.
Nuveen Churchill Direct Lending Stock Up 0.1%
Nuveen Churchill Direct Lending (NYSE:NCDL – Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Nuveen Churchill Direct Lending had a return on equity of 9.80% and a net margin of 29.56%.The firm had revenue of $17.15 million for the quarter, compared to analyst estimates of $47.79 million. Sell-side 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 declared a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.44 annualized dividend and a yield of 11.9%. Nuveen Churchill Direct Lending’s payout ratio is 120.00%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on NCDL shares. UBS Group lowered their price target on shares of Nuveen Churchill Direct Lending from $15.50 to $14.75 and set a “neutral” rating for the company in a report on Monday, May 18th. Zacks Research upgraded Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. Wall Street Zen upgraded Nuveen Churchill Direct Lending from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Wells Fargo & Company lowered shares of Nuveen Churchill Direct Lending from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $13.00 to $12.00 in a report on Friday, June 12th. One 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’s stock. Based on data from MarketBeat.com, Nuveen Churchill Direct Lending presently has an average rating of “Hold” and an average price target of $14.44.
Check Out Our Latest Report on Nuveen Churchill Direct Lending
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.
Read More
- Five stocks we like better than Nuveen Churchill Direct Lending
- RTX and Lockheed Earnings: Can Strong Guidance Reset the Defense Trade?
- These 4 Earnings Reports Expose the Market’s Growing Economic Divide
- Broadcom May Be the Biggest Winner From Alphabet’s Earnings
- Volatility Is Back and These 3 Market Tollbooths Are Best Positioned to Profit
Want to see what other hedge funds are holding NCDL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nuveen Churchill Direct Lending Corp. (NYSE:NCDL – Free Report).
Receive News & Ratings for Nuveen Churchill Direct Lending Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nuveen Churchill Direct Lending and related companies with MarketBeat.com's FREE daily email newsletter.
