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

Shares of Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) saw strong trading volume on Monday following insider buying activity. 440,127 shares changed 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 bought 20,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were purchased at an average cost of $17.35 per share, for a total transaction of $347,000.00. Following the transaction, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at approximately $173,500. The trade was a -200.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through 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 analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.33.

Nuveen Churchill Direct Lending Stock Up 0.5 %

The company has a market cap of $947.58 million and a PE ratio of 7.43. The business has a fifty day simple moving average of $17.23 and a two-hundred day simple moving average of $17.43. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 1.10.

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 issued a $0.10 dividend. The ex-dividend date is Tuesday, December 31st. This represents a yield of 10.5%. Nuveen Churchill Direct Lending’s payout ratio is 76.92%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NCDL. Tranquility Partners LLC increased its position in Nuveen Churchill Direct Lending by 207.4% during the third quarter. Tranquility Partners LLC now owns 48,960 shares of the company’s stock worth $853,000 after purchasing an additional 33,035 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Nuveen Churchill Direct Lending during the 2nd quarter valued at about $543,000. Aprio Wealth Management LLC lifted its position in shares of Nuveen Churchill Direct Lending by 250.2% during the third quarter. Aprio Wealth Management LLC now owns 54,688 shares of the company’s stock worth $953,000 after purchasing 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 approximately $520,000. Finally, Hennion & Walsh Asset Management Inc. increased 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 worth $1,375,000 after buying an additional 51,023 shares during the period.

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.