Nuveen Churchill Direct Lending (NYSE:NCDL) Sees Unusually-High Trading Volume Following Insider Buying Activity

Shares of Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) saw strong trading volume on Monday after an insider bought additional shares in the company. 440,127 shares traded hands 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 purchased 20,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was acquired at an average price of $17.35 per share, for a total transaction of $347,000.00. Following the acquisition, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at approximately $173,500. This represents a -200.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company cut 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 stock. Based on data from MarketBeat.com, Nuveen Churchill Direct Lending currently has a consensus rating of “Moderate Buy” and an average price target of $18.33.

Nuveen Churchill Direct Lending Trading Up 0.5 %

The company’s 50-day moving average price is $17.22 and its 200-day moving average price is $17.43. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.69 and a current ratio of 1.69. The firm has a market capitalization of $947.58 million and a PE ratio of 7.43.

Nuveen Churchill Direct Lending Dividend Announcement

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

Institutional Trading of Nuveen Churchill Direct Lending

Several hedge funds and other institutional investors have recently made changes to their positions in NCDL. Tranquility Partners LLC raised its position in shares of Nuveen Churchill Direct Lending by 207.4% in the third quarter. Tranquility Partners LLC now owns 48,960 shares of the company’s stock valued at $853,000 after buying an additional 33,035 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Nuveen Churchill Direct Lending in the second quarter worth $543,000. Aprio Wealth Management LLC increased its position in shares of Nuveen Churchill Direct Lending by 250.2% in the third quarter. Aprio Wealth Management LLC now owns 54,688 shares of the company’s stock worth $953,000 after acquiring an additional 39,073 shares in the last quarter. Ariadne Wealth Management LP purchased a new position in shares of Nuveen Churchill Direct Lending in the second quarter valued at $520,000. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in Nuveen Churchill Direct Lending by 182.3% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 79,018 shares of the company’s stock valued at $1,375,000 after acquiring an additional 51,023 shares during the last quarter.

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.