BlueChip Wealth Advisors LLC Decreases Position in CION Investment Co. (NYSE:CION)

BlueChip Wealth Advisors LLC lessened its stake in CION Investment Co. (NYSE:CION) by 30.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 34,616 shares of the company’s stock after selling 14,857 shares during the period. BlueChip Wealth Advisors LLC’s holdings in CION Investment were worth $395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Kingsview Wealth Management LLC increased its holdings in shares of CION Investment by 19.8% in the 3rd quarter. Kingsview Wealth Management LLC now owns 27,910 shares of the company’s stock valued at $332,000 after acquiring an additional 4,615 shares during the period. Quantbot Technologies LP purchased a new position in CION Investment during the 3rd quarter worth $104,000. Townsquare Capital LLC increased its stake in CION Investment by 7.0% in the third quarter. Townsquare Capital LLC now owns 31,438 shares of the company’s stock valued at $374,000 after purchasing an additional 2,061 shares during the period. Arete Wealth Advisors LLC raised its holdings in shares of CION Investment by 67.6% in the third quarter. Arete Wealth Advisors LLC now owns 28,275 shares of the company’s stock valued at $337,000 after buying an additional 11,408 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new stake in shares of CION Investment during the third quarter worth about $220,000. 32.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company restated an “underweight” rating and issued a $10.00 price target (down previously from $11.00) on shares of CION Investment in a research report on Monday, March 17th.

CION Investment Price Performance

Shares of NYSE CION opened at $10.45 on Friday. The stock has a fifty day moving average price of $11.71 and a 200 day moving average price of $11.66. CION Investment Co. has a 1-year low of $10.32 and a 1-year high of $12.71. The company has a market cap of $553.87 million, a PE ratio of 7.11 and a beta of 1.11.

CION Investment (NYSE:CION) last released its earnings results on Thursday, March 13th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). CION Investment had a return on equity of 11.49% and a net margin of 31.21%. The firm had revenue of $87.91 million during the quarter, compared to analyst estimates of $54.11 million. Analysts anticipate that CION Investment Co. will post 1.78 earnings per share for the current fiscal year.

CION Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 13.79%. The ex-dividend date of this dividend is Friday, March 28th. CION Investment’s dividend payout ratio is presently 228.57%.

CION Investment Profile

CION Investment Corporation is a business development company. It specializes in investments in senior secured loans, including unitranche loans, First Lien, second lien loans, long-term subordinated loans, and mezzanine loans; equity interests such as warrants or options; and corporate bonds; and other debt securities in middle-market companies.