Nuveen Churchill Direct Lending
NCDL
Market cap $953M

17.38 USD

+0.14

0.81%

At close Oct 7, 4:00 PM EDT

1 day

0.81%

5 days

-0.80%

1 month

0.46%

3 months

-0.40%

6 months

-2.08%

Year to date

-2.63%

1 year

-2.63%

5 years

-2.63%

About: Nuveen Churchill Direct Lending Corp is a specialty finance company focused predominantly on investing in senior secured loans to private equity-owned U.S. middle market companies. It invest in senior secured loans that typically pay floating interest rates and are senior in the capital structure to junior debt and equity.

0

Funds holding %

of 6,740 funds

–

Analysts bullish %

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

300% more first-time investments, than exits

New positions opened: 20 | Existing positions closed: 5

140% more repeat investments, than reductions

Existing positions increased: 12 | Existing positions reduced: 5

63% more funds holding

Funds holding: 24 [Q1] → 39 (+15) [Q2]

54% more capital invested

Capital invested by funds: $51.1M [Q1] → $78.7M (+$27.7M) [Q2]

3.06% more ownership

Funds ownership: 5.16% [Q1] → 8.22% (+3.06%) [Q2]

See Fund Rankings

Research analyst outlook

1 Wall Street Analyst provided 1 year price targets over the past 3 months

Low target

$17

2%

downside

Avg. target

$17

2%

downside

High target

$17

2%

downside

1 analyst rating

0 positive

0%

1 neutral

100%

0 negative

0%

Wells Fargo

Finian O'Shea

55% 1-year accuracy

11 / 20 met price target

2%downside

$17

Equal-Weight

Maintained

12 Aug 2024

See Analyst Rankings

Financial journalist opinion

Based on 3 articles about NCDL published over the past 30 days

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Buy These ‘Private Equity' Plays For 10.5% Yields

Gauging Distribution Winners And Losers In The Next Rate Cycle

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Gauging Distribution Winners And Losers In The Next Rate Cycle

NCDL: The Data Is Too Good To Maintain Hold (Rating Upgrade)

NCDL is a relatively new BDC with an IPO date in January this year. In my previous piece that was issued back in May, I outlined several areas of concern that lead to a neutral stance. However, seeing the Q2, 2024 data and putting all of the critical pieces together, I have decided to upgrade it from hold to buy.

NCDL: The Data Is Too Good To Maintain Hold (Rating Upgrade)

BDC Weekly Review: PSEC Gets Bad Press

We take a look at the action in business development companies through the third week of August and highlight some of the key themes we are watching. BDCs delivered a 2% total return on the week, starting to climb out of the early August drawdown. A recent Bloomberg article on Prospect Capital focused on cash generation and preferred stock issuance.

BDC Weekly Review: PSEC Gets Bad Press

Why We Are Adding BDCs To Our Income Portfolios Right Now

Over the last couple of weeks we added a number of new BDC positions to our Income Portfolios despite a fairly expensive credit market backdrop. We discuss the reasons behind this and where we see value in the BDC space. Recent market hiccup has opened up attractive opportunities in the BDC sector, particularly in newly IPO'd companies with lower liquidity and awareness.

Why We Are Adding BDCs To Our Income Portfolios Right Now

NCDL: Initiating Coverage And Adding A Position In This 13% Yielding BDC

We initiate coverage of business development company Nuveen Churchill Direct Lending Corp. It trades at a 13% dividend yield. Portfolio quality has remained stable, with low non-accruals and a focus on first-lien loans. We added a position in the stock given its portfolio quality, resilience and above-average valuation-adjusted performance.

NCDL: Initiating Coverage And Adding A Position In This 13% Yielding BDC

Nuveen Churchill Direct Lending Corp. (NCDL) Q2 2024 Earnings Call Transcript

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL ) Q2 2024 Earnings Conference Call August 7, 2024 11:00 AM ET Company Participants Alona Gornick - Senior Investment Strategist Kenneth Kencel - Chairman, President and CEO Shai Vichness - Chief Financial Officer and Treasurer Conference Call Participants Brian McKenna - JMP Securities Douglas Harter - UBS Mark Hughes - Truist Securities Operator Welcome to the Nuveen Churchill Direct Lending Corp. Second Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode.

Nuveen Churchill Direct Lending Corp. (NCDL) Q2 2024 Earnings Call Transcript

Nuveen Churchill Direct Lending Corp. Announces Second Quarter 2024 Results

NEW YORK--(BUSINESS WIRE)--Nuveen Churchill Direct Lending Corp. (NYSE: NCDL) (“NCDL” or the “Company”), a business development company externally managed by its investment adviser, Churchill DLC Advisor LLC (the “Adviser”), and by its sub-adviser, Churchill Asset Management LLC (“Churchill”), today reported financial results for the quarter ended June 30, 2024. Financial Highlights for the Quarter Ended June 30, 2024 Net investment income per share of $0.57 Total net realized and unrealized lo.

Nuveen Churchill Direct Lending Corp. Announces Second Quarter 2024 Results

Nuveen Churchill Direct Lending Corp. Schedules Second Quarter 2024 Earnings Release and Conference Call

NEW YORK--(BUSINESS WIRE)--Nuveen Churchill Direct Lending Corp. (NYSE: NCDL) (“NCDL” or “the Company”), today announced it will report its financial results for the second quarter ended June 30, 2024, on Wednesday, August 7, 2024, before the market opens. The Company will host an earnings conference call and public webcast at 11:00 AM Eastern Time the same day to discuss its financial results. All interested parties may participate in the conference call by dialing (866)-605-1826 approximately.

Nuveen Churchill Direct Lending Corp. Schedules Second Quarter 2024 Earnings Release and Conference Call

NCDL: Too Many Uncertainties To Go Long

Nuveen Churchill Direct Lending Corporation is a BDC that went public this year, but so far, has underperformed the BDC index. By looking at the underlying financials, we will recognize a sufficient basis of data points that explain the market's reaction. In this article, I assess NCDL's fundamentals and elaborate on the key risks that, in my opinion, are sufficient for assuming a conservative view against NCDL.

NCDL: Too Many Uncertainties To Go Long

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