Blue Owl Capital Holdings LP Sells 947,927 Shares of Nuveen Churchill Direct Lending Corp. $NCDL

Blue Owl Capital Holdings LP reduced its position in Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) by 30.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,143,626 shares of the company’s stock after selling 947,927 shares during the quarter. Nuveen Churchill Direct Lending makes up about 2.1% of Blue Owl Capital Holdings LP’s holdings, making the stock its 3rd largest holding. Blue Owl Capital Holdings LP’s holdings in Nuveen Churchill Direct Lending were worth $28,596,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NCDL. UBS Group AG increased its stake in Nuveen Churchill Direct Lending by 40.0% in the 4th quarter. UBS Group AG now owns 689,050 shares of the company’s stock valued at $9,192,000 after buying an additional 196,956 shares during the period. Brown Brothers Harriman & Co. acquired a new position in Nuveen Churchill Direct Lending in the 3rd quarter valued at $1,498,000. Hennion & Walsh Asset Management Inc. increased its stake in Nuveen Churchill Direct Lending by 14.5% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 479,357 shares of the company’s stock valued at $6,395,000 after buying an additional 60,786 shares during the period. Millennium Management LLC increased its stake in Nuveen Churchill Direct Lending by 64.1% in the 3rd quarter. Millennium Management LLC now owns 136,567 shares of the company’s stock valued at $1,885,000 after buying an additional 53,342 shares during the period. Finally, Callodine Capital Management LP increased its stake in Nuveen Churchill Direct Lending by 9.1% in the 3rd quarter. Callodine Capital Management LP now owns 572,800 shares of the company’s stock valued at $7,905,000 after buying an additional 47,800 shares during the period.

Insiders Place Their Bets

In other Nuveen Churchill Direct Lending news, Treasurer Shaul Vichness acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average cost of $13.20 per share, for a total transaction of $66,000.00. Following the transaction, the treasurer directly owned 30,705 shares of the company’s stock, valued at approximately $405,306. This represents a 19.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Marissa Hassen acquired 3,782 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was acquired at an average price of $13.21 per share, for a total transaction of $49,960.22. Following the completion of the transaction, the chief accounting officer directly owned 9,780 shares in the company, valued at approximately $129,193.80. This represents a 63.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 56,329 shares of company stock worth $751,066. 0.68% of the stock is owned by company insiders.

Nuveen Churchill Direct Lending Stock Up 0.1%

Nuveen Churchill Direct Lending stock opened at $12.89 on Monday. Nuveen Churchill Direct Lending Corp. has a 52 week low of $12.43 and a 52 week high of $17.27. The firm’s 50-day simple moving average is $13.52 and its 200 day simple moving average is $13.76. The firm has a market capitalization of $636.64 million, a PE ratio of 10.74 and a beta of 0.63.

Nuveen Churchill Direct Lending (NYSE:NCDL) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate 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 business had revenue of $17.15 million during the quarter, compared to analysts’ expectations of $47.79 million. On average, research 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Tuesday, June 30th will be given a $0.36 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.44 annualized dividend and a dividend yield of 11.2%. Nuveen Churchill Direct Lending’s payout ratio is currently 120.00%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on NCDL shares. Truist Financial dropped their price objective on shares of Nuveen Churchill Direct Lending from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Wall Street Zen raised shares of Nuveen Churchill Direct Lending from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. UBS Group lowered their price target on shares of Nuveen Churchill Direct Lending from $15.50 to $14.75 and set a “neutral” rating on the stock in a research note on Monday, May 18th. Keefe, Bruyette & Woods lowered their price target on shares of Nuveen Churchill Direct Lending from $16.00 to $15.00 and set a “market perform” rating on the stock in a research note on Friday, February 27th. Finally, Wells Fargo & Company lowered their price target on shares of Nuveen Churchill Direct Lending from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 4th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $15.35.

Nuveen Churchill Direct Lending 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.