Nuveen Churchill Direct Lending (NYSE:NCDL) Sees Large Volume Increase Following Insider Buying Activity

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) saw unusually-high trading volume on Monday following insider buying activity. Approximately 440,127 shares were traded during mid-day trading, an increase of 461% from the previous session’s volume of 78,451 shares.The stock last traded at $17.39 and had previously closed at $17.30.

Specifically, CEO Kenneth J. Kencel acquired 20,000 shares of the stock in a transaction dated Wednesday, November 27th. The stock was acquired at an average cost of $17.35 per share, with a total value of $347,000.00. Following the completion of the transaction, the chief executive officer now owns 10,000 shares in the company, valued at $173,500. This represents a -200.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Analysts Set New Price Targets

Separately, Wells Fargo & Company lowered their price target on shares of Nuveen Churchill Direct Lending from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.33.

Nuveen Churchill Direct Lending Price Performance

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 stock has a market capitalization of $947.58 million and a price-to-earnings ratio of 7.43. The company’s 50 day moving average is $17.23 and its 200 day moving average is $17.43.

Nuveen Churchill Direct Lending Announces Dividend

The company also recently announced a — dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Tuesday, December 31st will be issued a $0.10 dividend. This represents a dividend yield of 10.5%. The ex-dividend date of this dividend is Tuesday, December 31st. Nuveen Churchill Direct Lending’s payout ratio is currently 76.92%.

Institutional Trading of Nuveen Churchill Direct Lending

A number of large investors have recently made changes to their positions in the company. Farther Finance Advisors LLC increased its stake in Nuveen Churchill Direct Lending by 119.8% in the third quarter. Farther Finance Advisors LLC now owns 3,201 shares of the company’s stock valued at $56,000 after purchasing an additional 1,745 shares during the period. Sunbelt Securities Inc. purchased a new position in shares of Nuveen Churchill Direct Lending during the second quarter worth about $95,000. Catalina Capital Group LLC acquired a new position in Nuveen Churchill Direct Lending in the 3rd quarter valued at about $182,000. Dudley Capital Management LLC purchased a new stake in Nuveen Churchill Direct Lending during the 3rd quarter valued at approximately $204,000. Finally, Beacon Bridge Wealth Partners LLC acquired a new stake in Nuveen Churchill Direct Lending during the 2nd quarter worth approximately $226,000.

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.