Renaissance Technologies LLC Has $5.47 Million Stock Holdings in CION Investment Co. (NYSE:CION)

Renaissance Technologies LLC trimmed its position in CION Investment Co. (NYSE:CION) by 12.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 479,688 shares of the company’s stock after selling 68,912 shares during the quarter. Renaissance Technologies LLC owned about 0.90% of CION Investment worth $5,468,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Founders Financial Alliance LLC lifted its position in CION Investment by 5.3% during the 4th quarter. Founders Financial Alliance LLC now owns 21,769 shares of the company’s stock worth $248,000 after acquiring an additional 1,086 shares during the last quarter. Concurrent Investment Advisors LLC increased its stake in shares of CION Investment by 2.6% in the fourth quarter. Concurrent Investment Advisors LLC now owns 42,822 shares of the company’s stock worth $488,000 after purchasing an additional 1,093 shares during the period. Endowment Wealth Management Inc. lifted its position in shares of CION Investment by 2.6% during the 4th quarter. Endowment Wealth Management Inc. now owns 59,852 shares of the company’s stock worth $682,000 after purchasing an additional 1,522 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in CION Investment by 15.0% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 24,621 shares of the company’s stock valued at $281,000 after purchasing an additional 3,205 shares during the period. Finally, HighTower Advisors LLC grew its holdings in CION Investment by 16.4% in the 4th quarter. HighTower Advisors LLC now owns 22,956 shares of the company’s stock valued at $262,000 after buying an additional 3,236 shares during the last quarter. 32.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

CION Investment Stock Performance

Shares of CION opened at $9.45 on Monday. The company has a 50-day simple moving average of $10.99 and a 200-day simple moving average of $11.38. CION Investment Co. has a 52 week low of $8.51 and a 52 week high of $12.71. The firm has a market capitalization of $500.84 million, a P/E ratio of 6.43 and a beta of 1.17.

CION Investment (NYSE:CION) last posted its quarterly 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). 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%. As a group, equities analysts forecast that CION Investment Co. will post 1.78 earnings per share for the current year.

CION Investment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 15.25%. The ex-dividend date of this dividend was Friday, March 28th. CION Investment’s dividend payout ratio (DPR) 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.