Insider Buying: Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) CEO Acquires 16,234 Shares of Stock

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) CEO Kenneth J. Kencel purchased 16,234 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were purchased at an average price of $15.34 per share, for a total transaction of $249,029.56. Following the purchase, the chief executive officer now directly owns 28,117 shares in the company, valued at $431,314.78. The trade was a 136.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Nuveen Churchill Direct Lending Stock Up 0.7%

Nuveen Churchill Direct Lending stock opened at $15.46 on Thursday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.69 and a quick ratio of 1.69. Nuveen Churchill Direct Lending Corp. has a 1-year low of $14.21 and a 1-year high of $18.05. The company has a market cap of $791.81 million, a PE ratio of 6.61 and a beta of 0.45. The stock’s 50 day moving average price is $16.05 and its 200 day moving average price is $16.74.

Nuveen Churchill Direct Lending (NYSE:NCDL) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.04). Nuveen Churchill Direct Lending had a net margin of 53.56% and a return on equity of 12.72%. The business had revenue of $53.59 million during the quarter, compared to analysts’ expectations of $56.01 million. On average, sell-side analysts predict that Nuveen Churchill Direct Lending Corp. will post 2.28 EPS for the current fiscal year.

Nuveen Churchill Direct Lending Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Monday, June 30th will be paid a $0.45 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 11.64%. Nuveen Churchill Direct Lending’s dividend payout ratio (DPR) is presently 96.26%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NCDL. UBS Group lowered their target price on Nuveen Churchill Direct Lending from $18.00 to $16.25 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Keefe, Bruyette & Woods lowered their target price on Nuveen Churchill Direct Lending from $18.00 to $17.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company lowered their target price on Nuveen Churchill Direct Lending from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday.

Institutional Trading of Nuveen Churchill Direct Lending

A number of institutional investors have recently modified their holdings of the business. Merit Financial Group LLC boosted its stake in shares of Nuveen Churchill Direct Lending by 0.8% in the first quarter. Merit Financial Group LLC now owns 84,467 shares of the company’s stock valued at $1,434,000 after buying an additional 695 shares in the last quarter. Entropy Technologies LP raised its holdings in Nuveen Churchill Direct Lending by 6.8% during the first quarter. Entropy Technologies LP now owns 12,025 shares of the company’s stock worth $204,000 after purchasing an additional 761 shares during the last quarter. Dover Advisors LLC raised its holdings in Nuveen Churchill Direct Lending by 6.5% during the first quarter. Dover Advisors LLC now owns 16,500 shares of the company’s stock worth $289,000 after purchasing an additional 1,000 shares during the last quarter. Bellevue Asset Management LLC acquired a new position in Nuveen Churchill Direct Lending during the fourth quarter worth $28,000. Finally, Dudley Capital Management LLC raised its holdings in Nuveen Churchill Direct Lending by 5.2% during the first quarter. Dudley Capital Management LLC now owns 33,862 shares of the company’s stock worth $575,000 after purchasing an additional 1,675 shares during the last quarter.

About Nuveen Churchill Direct Lending

Nuveen Churchill Direct Lending Corp. is a specialty finance company focused primarily on investing in senior secured loans to private equity-owned U.S. middle market companies. It has elected to be regulated as a business development company. Nuveen Churchill Direct Lending Corp. is based in NEW YORK.