Private Advisor Group LLC Buys 119,783 Shares of CION Investment Corporation $CION

Private Advisor Group LLC increased its stake in shares of CION Investment Corporation (NYSE:CION) by 16.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 860,616 shares of the company’s stock after buying an additional 119,783 shares during the quarter. Private Advisor Group LLC owned 1.70% of CION Investment worth $5,887,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. BNP Paribas Financial Markets acquired a new position in CION Investment during the third quarter worth $37,000. Geneos Wealth Management Inc. lifted its holdings in shares of CION Investment by 21.7% during the second quarter. Geneos Wealth Management Inc. now owns 8,802 shares of the company’s stock valued at $84,000 after acquiring an additional 1,571 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of CION Investment by 183.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 8,872 shares of the company’s stock valued at $86,000 after acquiring an additional 5,739 shares during the period. Diversify Advisory Services LLC acquired a new stake in shares of CION Investment in the 4th quarter valued at $95,000. Finally, Aquatic Capital Management LLC grew its holdings in shares of CION Investment by 165.0% in the 3rd quarter. Aquatic Capital Management LLC now owns 10,354 shares of the company’s stock worth $98,000 after purchasing an additional 6,447 shares during the last quarter. Institutional investors own 32.01% of the company’s stock.

CION Investment Trading Up 1.8%

Shares of CION Investment stock traded up $0.11 during trading on Tuesday, reaching $6.36. The company’s stock had a trading volume of 181,446 shares, compared to its average volume of 574,272. The stock has a 50-day moving average price of $6.81 and a two-hundred day moving average price of $7.82. The stock has a market capitalization of $316.76 million, a P/E ratio of -159.01 and a beta of 1.10. CION Investment Corporation has a one year low of $5.97 and a one year high of $10.93.

CION Investment (NYSE:CION) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). The company had revenue of $49.54 million for the quarter, compared to the consensus estimate of $49.12 million. CION Investment had a positive return on equity of 11.96% and a negative net margin of 0.41%. As a group, sell-side analysts anticipate that CION Investment Corporation will post 1.05 EPS for the current fiscal year.

CION Investment Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be given a dividend of $0.10 per share. This represents a c) dividend on an annualized basis and a dividend yield of 18.9%. The ex-dividend date is Friday, September 11th. CION Investment’s dividend payout ratio is presently -3,000.00%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CION shares. Wells Fargo & Company dropped their target price on shares of CION Investment from $7.00 to $6.50 and set an “underweight” rating for the company in a research report on Monday, May 11th. Zacks Research upgraded shares of CION Investment from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. Weiss Ratings cut shares of CION Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday. Finally, Wall Street Zen lowered shares of CION Investment from a “strong-buy” rating to a “hold” rating in a report on Saturday, March 14th. One analyst has rated the stock with a Strong Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.50.

CION Investment Company Profile

CION Investment Corporation is a closed?end, non?diversified management investment company organized as a business development company under the Investment Company Act of 1940. Externally managed by CION Investment Management, LLC, the firm specializes in providing flexible capital solutions to U.S. and Canadian middle?market companies. By combining debt and equity financing, CION seeks to support growth, acquisitions, recapitalizations and other strategic initiatives for its portfolio companies.

The company’s investment strategy centers on senior secured loans, subordinated debt and private equity interests.