Procyon Advisors LLC Sells 3,250 Shares of Nuveen Churchill Direct Lending Corp. (NYSE:NCDL)

Procyon Advisors LLC cut its position in shares of Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) by 5.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 60,454 shares of the company’s stock after selling 3,250 shares during the quarter. Procyon Advisors LLC’s holdings in Nuveen Churchill Direct Lending were worth $1,027,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NCDL. Bellevue Asset Management LLC purchased a new position in Nuveen Churchill Direct Lending in the 4th quarter worth $28,000. Tower Research Capital LLC TRC purchased a new stake in Nuveen Churchill Direct Lending during the fourth quarter valued at about $48,000. NewEdge Advisors LLC grew its stake in shares of Nuveen Churchill Direct Lending by 680.1% during the fourth quarter. NewEdge Advisors LLC now owns 3,300 shares of the company’s stock valued at $55,000 after buying an additional 2,877 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Nuveen Churchill Direct Lending by 72.2% during the fourth quarter. Farther Finance Advisors LLC now owns 5,512 shares of the company’s stock valued at $92,000 after buying an additional 2,311 shares during the last quarter. Finally, OneAscent Wealth Management LLC purchased a new position in shares of Nuveen Churchill Direct Lending in the fourth quarter worth about $171,000.

Nuveen Churchill Direct Lending Stock Performance

Shares of NYSE:NCDL opened at $16.20 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 1.10. The company has a 50-day moving average price of $15.61 and a 200-day moving average price of $16.61. The company has a market cap of $814.55 million, a price-to-earnings ratio of 6.92 and a beta of 0.47. Nuveen Churchill Direct Lending Corp. has a 12 month low of $14.21 and a 12 month high of $18.01.

Nuveen Churchill Direct Lending (NYSE:NCDL) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.53 EPS 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 for the quarter, compared to the consensus estimate of $56.01 million. As a group, equities analysts anticipate that Nuveen Churchill Direct Lending Corp. will post 2.28 EPS for the current 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. This represents a $1.80 dividend on an annualized basis and a yield of 11.11%. The ex-dividend date of this dividend is Monday, June 30th. Nuveen Churchill Direct Lending’s payout ratio is 96.26%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods dropped their target price on Nuveen Churchill Direct Lending from $18.00 to $17.00 and set a “market perform” rating for the company in a report on Tuesday, April 8th. UBS Group dropped their price objective on Nuveen Churchill Direct Lending from $18.00 to $16.25 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Finally, Wells Fargo & Company cut their target price on shares of Nuveen Churchill Direct Lending from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 13th.

Insider Activity at Nuveen Churchill Direct Lending

In other news, CEO Kenneth J. Kencel bought 16,234 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was purchased at an average price of $15.34 per share, with a total value of $249,029.56. Following the transaction, the chief executive officer now owns 28,117 shares of the company’s stock, valued at approximately $431,314.78. The trade was a 136.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mat Linett purchased 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 21st. The shares were purchased at an average price of $15.92 per share, for a total transaction of $47,760.00. Following the completion of the transaction, the director now directly owns 8,365 shares of the company’s stock, valued at $133,170.80. This represents a 55.92% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 22,337 shares of company stock worth $345,445 over the last quarter. Corporate insiders own 0.62% of the company’s stock.

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.