Virtu Financial LLC Acquires 13,199 Shares of CION Investment Co. (NYSE:CION)

Virtu Financial LLC grew its holdings in CION Investment Co. (NYSE:CION) by 124.1% in the fourth quarter, Holdings Channel reports. The firm owned 23,831 shares of the company’s stock after buying an additional 13,199 shares during the quarter. Virtu Financial LLC’s holdings in CION Investment were worth $272,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CION. Advisors Asset Management Inc. increased its holdings in CION Investment by 130.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 49,673 shares of the company’s stock worth $591,000 after buying an additional 28,129 shares in the last quarter. Kingsview Wealth Management LLC grew its stake in shares of CION Investment by 19.8% in the third quarter. Kingsview Wealth Management LLC now owns 27,910 shares of the company’s stock worth $332,000 after acquiring an additional 4,615 shares during the period. Quantbot Technologies LP bought a new stake in shares of CION Investment in the third quarter worth approximately $104,000. Townsquare Capital LLC raised its holdings in shares of CION Investment by 7.0% during 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 last quarter. Finally, Arete Wealth Advisors LLC lifted its position in CION Investment by 67.6% during the third quarter. Arete Wealth Advisors LLC now owns 28,275 shares of the company’s stock valued at $337,000 after purchasing an additional 11,408 shares during the period. Hedge funds and other institutional investors own 32.01% of the company’s stock.

CION Investment Stock Up 0.2 %

CION Investment stock opened at $10.86 on Friday. The business has a 50-day simple moving average of $11.73 and a two-hundred day simple moving average of $11.67. CION Investment Co. has a 52-week low of $10.52 and a 52-week high of $12.71. The company has a market cap of $575.61 million, a P/E ratio of 7.38 and a beta of 1.11.

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

CION Investment Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.44 annualized dividend and a yield of 13.27%. CION Investment’s dividend payout ratio (DPR) is presently 228.57%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company reiterated 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.

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.