CION Investment Corporation $CION Stock: True Freedom Investing LLC Decreases Holdings

True Freedom Investing LLC lowered its position in shares of CION Investment Corporation (NYSE:CION) by 69.5% in the 3rd quarter, Holdings Channel reports. The fund owned 43,660 shares of the company’s stock after selling 99,462 shares during the period. True Freedom Investing LLC’s holdings in CION Investment were worth $306,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Van ECK Associates Corp grew its stake in shares of CION Investment by 27.7% in the second quarter. Van ECK Associates Corp now owns 1,236,397 shares of the company’s stock worth $7,703,000 after purchasing an additional 268,242 shares in the last quarter. BlackRock Inc. acquired a new position in shares of CION Investment during the second quarter valued at approximately $1,218,000. Bank of America Corp DE bought a new stake in CION Investment during the second quarter worth approximately $1,059,000. Diversify Advisory Services LLC bought a new position in CION Investment during the 2nd quarter valued at $768,000. Finally, Private Advisor Group LLC increased its position in shares of CION Investment by 16.2% during the 1st quarter. Private Advisor Group LLC now owns 860,616 shares of the company’s stock valued at $5,887,000 after purchasing an additional 119,783 shares during the period. Institutional investors own 32.01% of the company’s stock.

CION Investment Stock Down 0.1%

Shares of CION Investment stock opened at $6.99 on Monday. The stock’s fifty day moving average is $7.04 and its 200-day moving average is $7.26. The firm has a market capitalization of $343.71 million, a PE ratio of 116.43 and a beta of 1.14. CION Investment Corporation has a 12-month low of $5.83 and a 12-month high of $10.40.

CION Investment (NYSE:CION) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. CION Investment had a return on equity of 11.95% and a net margin of 1.17%. The firm had revenue of $49.79 million for the quarter, compared to analysts’ expectations of $49.78 million. Analysts expect that CION Investment Corporation will post 1.08 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CION shares. Weiss Ratings raised CION Investment from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Zacks Research cut shares of CION Investment from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $6.50.

CION Investment Profile

CION Investment Corporation (NYSE:CION) is a closed-end, externally managed business development company (BDC) that provides financing to privately owned, middle-market companies. The company primarily seeks to generate current income and, to a lesser extent, capital appreciation by investing in the debt and equity securities of eligible businesses.

CION’s investment portfolio generally includes senior secured loans, subordinated debt, unitranche investments and, in select cases, equity or equity-related securities.