Corient Private Wealth LLC Sells 411,934 Shares of Nuveen Churchill Direct Lending Corp. $NCDL

Corient Private Wealth LLC lowered its position in Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) by 17.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,904,763 shares of the company’s stock after selling 411,934 shares during the period. Corient Private Wealth LLC’s holdings in Nuveen Churchill Direct Lending were worth $25,410,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Virtu Financial LLC grew its holdings in shares of Nuveen Churchill Direct Lending by 181.2% during the fourth quarter. Virtu Financial LLC now owns 41,725 shares of the company’s stock worth $557,000 after purchasing an additional 26,885 shares during the last quarter. Invesco Ltd. grew its holdings in Nuveen Churchill Direct Lending by 2,179.1% during the 4th quarter. Invesco Ltd. now owns 742,296 shares of the company’s stock worth $9,902,000 after acquiring an additional 709,727 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Nuveen Churchill Direct Lending by 31.2% during the 4th quarter. NewEdge Advisors LLC now owns 6,073 shares of the company’s stock worth $81,000 after acquiring an additional 1,443 shares during the last quarter. VARCOV Co. acquired a new stake in Nuveen Churchill Direct Lending in the 4th quarter valued at about $371,000. Finally, Almitas Capital LLC acquired a new stake in Nuveen Churchill Direct Lending in the 4th quarter valued at about $936,000.

Insider Activity at Nuveen Churchill Direct Lending

In related news, Treasurer Shaul Vichness purchased 5,000 shares of Nuveen Churchill Direct Lending stock in a transaction that occurred 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 of the company’s stock, valued at approximately $405,306. This trade represents a 19.45% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Marissa Hassen acquired 3,782 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was bought at an average cost of $13.21 per share, with a total value of $49,960.22. Following the acquisition, the chief accounting officer owned 9,780 shares in the company, valued at $129,193.80. The trade was a 63.05% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NCDL shares. Zacks Research lowered shares of Nuveen Churchill Direct Lending from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 26th. Wall Street Zen lowered shares of Nuveen Churchill Direct Lending from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. UBS Group dropped their price objective on shares of Nuveen Churchill Direct Lending from $15.50 to $14.75 and set a “neutral” rating for the company in a research report on Monday, May 18th. Truist Financial reduced their price objective on Nuveen Churchill Direct Lending from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Finally, Wells Fargo & Company cut Nuveen Churchill Direct Lending from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $13.00 to $12.00 in a research note on Friday, June 12th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Nuveen Churchill Direct Lending has a consensus rating of “Hold” and a consensus target price of $15.15.

Nuveen Churchill Direct Lending Trading Down 1.3%

Shares of NCDL opened at $12.07 on Tuesday. The stock’s 50-day moving average price is $13.35 and its two-hundred day moving average price is $13.52. Nuveen Churchill Direct Lending Corp. has a 1 year low of $11.97 and a 1 year high of $17.27. The stock has a market cap of $596.19 million, a P/E ratio of 10.06 and a beta of 0.51.

Nuveen Churchill Direct Lending (NYSE:NCDL) last issued its earnings results on Thursday, May 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). The firm had revenue of $17.15 million during the quarter, compared to the consensus estimate of $47.79 million. Nuveen Churchill Direct Lending had a net margin of 29.56% and a return on equity of 9.80%. As a group, equities analysts forecast that Nuveen Churchill Direct Lending Corp. will post 1.6 EPS for the current year.

Nuveen Churchill Direct Lending Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, June 30th will be given 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%.

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.