CION Investment Co. (NYSE:CION) Shares Acquired by Alpine Global Management LLC

Alpine Global Management LLC boosted its stake in CION Investment Co. (NYSE:CION) by 42.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 383,632 shares of the company’s stock after buying an additional 113,632 shares during the period. CION Investment makes up approximately 1.0% of Alpine Global Management LLC’s portfolio, making the stock its 16th biggest position. Alpine Global Management LLC owned about 0.72% of CION Investment worth $4,373,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Van ECK Associates Corp increased its holdings in CION Investment by 1.7% in the 4th quarter. Van ECK Associates Corp now owns 1,329,799 shares of the company’s stock valued at $15,160,000 after purchasing an additional 21,825 shares during the last quarter. Invesco Ltd. acquired a new position in CION Investment during the 4th quarter worth about $11,882,000. Wells Fargo & Company MN boosted its holdings in CION Investment by 6,958.9% during the 4th quarter. Wells Fargo & Company MN now owns 722,201 shares of the company’s stock valued at $8,233,000 after acquiring an additional 711,970 shares during the period. Private Advisor Group LLC grew its position in CION Investment by 2.5% in the 4th quarter. Private Advisor Group LLC now owns 667,922 shares of the company’s stock valued at $7,614,000 after acquiring an additional 16,417 shares in the last quarter. Finally, Wealthfront Advisers LLC acquired a new stake in shares of CION Investment during the fourth quarter worth about $6,899,000. Hedge funds and other institutional investors own 32.01% of the company’s stock.

Analysts Set New Price Targets

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

CION Investment Stock Performance

Shares of CION opened at $9.30 on Tuesday. The stock has a 50-day simple moving average of $10.94 and a 200-day simple moving average of $11.36. CION Investment Co. has a 1 year low of $8.51 and a 1 year high of $12.71. The stock has a market capitalization of $493.15 million, a PE ratio of 6.33 and a beta of 1.17.

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

CION Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a $0.36 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 15.48%. CION Investment’s payout ratio is currently 228.57%.

About CION Investment

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.