Legacy Investment Solutions LLC Has $99,000 Stock Position in CION Investment Co. (NYSE:CION)

Legacy Investment Solutions LLC reduced its stake in CION Investment Co. (NYSE:CION) by 22.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,486 shares of the company’s stock after selling 2,438 shares during the period. Legacy Investment Solutions LLC’s holdings in CION Investment were worth $99,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Golden State Wealth Management LLC bought a new position in shares of CION Investment during the fourth quarter valued at $96,000. GWN Securities Inc. acquired a new stake in shares of CION Investment during the fourth quarter worth approximately $124,000. Virtu Financial LLC acquired a new position in shares of CION Investment in the 3rd quarter worth approximately $127,000. Dynamic Technology Lab Private Ltd bought a new stake in CION Investment during the 4th quarter worth approximately $127,000. Finally, Entropy Technologies LP acquired a new stake in CION Investment during the 4th quarter valued at $138,000. Institutional investors and hedge funds own 32.01% of the company’s stock.

Analyst Ratings Changes

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

CION Investment Trading Down 1.3 %

CION opened at $8.83 on Friday. CION Investment Co. has a 1-year low of $8.51 and a 1-year high of $12.71. The firm has a 50-day moving average price of $11.22 and a two-hundred day moving average price of $11.47. The stock has a market capitalization of $467.96 million, a PE ratio of 6.00 and a beta of 1.17.

CION Investment (NYSE:CION) last released its earnings results 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). 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 for the quarter, compared to the consensus estimate of $54.11 million. On average, research analysts predict that CION Investment Co. will post 1.78 EPS for the current year.

CION Investment Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $1.44 dividend on an annualized basis and a yield of 16.32%. CION Investment’s payout ratio is presently 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.