Nuveen Churchill Direct Lending (NYSE:NCDL) Sets New 12-Month Low – Here’s Why

Shares of Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $14.21 and last traded at $14.40, with a volume of 104404 shares trading hands. The stock had previously closed at $14.67.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lowered their price objective on Nuveen Churchill Direct Lending from $18.00 to $17.00 and set a “market perform” rating for the company in a research note on Tuesday, April 8th.

Nuveen Churchill Direct Lending Price Performance

The firm has a market cap of $760.17 million, a P/E ratio of 6.25 and a beta of 0.37. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.69 and a quick ratio of 1.69. The stock’s 50-day simple moving average is $16.97 and its two-hundred day simple moving average is $17.04.

Nuveen Churchill Direct Lending Announces Dividend

The company also recently declared a — dividend, which will be paid on Monday, April 28th. Investors of record on Monday, March 31st will be issued a dividend of $0.10 per share. The ex-dividend date is Monday, March 31st. This represents a yield of 10.3%. Nuveen Churchill Direct Lending’s payout ratio is 83.72%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Corient Private Wealth LLC raised its holdings in shares of Nuveen Churchill Direct Lending by 9.5% in the fourth quarter. Corient Private Wealth LLC now owns 2,712,348 shares of the company’s stock worth $45,513,000 after buying an additional 234,395 shares during the period. JPMorgan Chase & Co. grew its position in Nuveen Churchill Direct Lending by 94.3% in the 4th quarter. JPMorgan Chase & Co. now owns 751,442 shares of the company’s stock valued at $12,609,000 after acquiring an additional 364,739 shares during the last quarter. Millennium Management LLC increased its stake in Nuveen Churchill Direct Lending by 361.6% in the fourth quarter. Millennium Management LLC now owns 437,992 shares of the company’s stock worth $7,350,000 after purchasing an additional 343,113 shares during the period. Snowden Capital Advisors LLC lifted its position in shares of Nuveen Churchill Direct Lending by 100.1% during the fourth quarter. Snowden Capital Advisors LLC now owns 419,541 shares of the company’s stock worth $7,271,000 after purchasing an additional 209,823 shares during the last quarter. Finally, Opal Wealth Advisors LLC boosted its stake in shares of Nuveen Churchill Direct Lending by 105.6% during the fourth quarter. Opal Wealth Advisors LLC now owns 400,231 shares of the company’s stock valued at $6,716,000 after purchasing an additional 205,593 shares during the period.

Nuveen Churchill Direct Lending Company Profile

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.