Townsquare Capital LLC Grows Stake in CION Investment Co. (NYSE:CION)

Townsquare Capital LLC boosted its holdings in CION Investment Co. (NYSE:CION) by 7.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,883 shares of the company’s stock after purchasing an additional 2,445 shares during the quarter. Townsquare Capital LLC owned approximately 0.06% of CION Investment worth $386,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new stake in CION Investment in the 4th quarter valued at $96,000. Virtu Financial LLC bought a new position in CION Investment during the third quarter valued at approximately $127,000. GWN Securities Inc. purchased a new position in CION Investment during the 4th quarter valued at approximately $124,000. Dynamic Technology Lab Private Ltd bought a new stake in CION Investment in the 4th quarter worth approximately $127,000. Finally, Entropy Technologies LP bought a new position in shares of CION Investment during the 4th quarter valued at approximately $138,000. 32.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

CION Investment Stock Performance

Shares of CION Investment stock opened at $9.45 on Monday. The stock has a 50 day moving average price of $10.99 and a 200-day moving average price of $11.38. CION Investment Co. has a one year low of $8.51 and a one year high of $12.71. The stock has a market cap of $500.84 million, a price-to-earnings ratio of 6.43 and a beta of 1.17.

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

CION Investment Announces Dividend

The firm also recently declared 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 was Friday, March 28th. This represents a $1.44 annualized dividend and a dividend yield of 15.25%. CION Investment’s payout ratio is 228.57%.

CION Investment Company Profile

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.