Mercer Global Advisors Inc. ADV Lowers Position in CION Investment Co. (NYSE:CION)

Mercer Global Advisors Inc. ADV cut its stake in CION Investment Co. (NYSE:CION) by 48.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,655 shares of the company’s stock after selling 22,437 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in CION Investment were worth $270,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in shares of CION Investment in the fourth quarter worth approximately $96,000. Aquatic Capital Management LLC purchased a new stake in shares of CION Investment in the fourth quarter worth approximately $103,000. Coppell Advisory Solutions LLC raised its stake in shares of CION Investment by 11.1% in the fourth quarter. Coppell Advisory Solutions LLC now owns 10,966 shares of the company’s stock worth $123,000 after purchasing an additional 1,093 shares during the last quarter. GWN Securities Inc. purchased a new stake in shares of CION Investment in the fourth quarter worth approximately $124,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of CION Investment in the fourth quarter worth approximately $127,000. 32.01% of the stock is owned by hedge funds and other institutional investors.

CION Investment Stock Up 0.6%

CION stock opened at $9.74 on Friday. The firm has a market cap of $513.17 million, a PE ratio of 6.63 and a beta of 1.18. The business has a 50 day moving average of $10.03 and a 200-day moving average of $11.10. CION Investment Co. has a 12-month low of $8.51 and a 12-month high of $12.71.

CION Investment (NYSE:CION) last released its earnings results on Thursday, May 8th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). The business had revenue of $56.07 million during the quarter, compared to the consensus estimate of $54.15 million. CION Investment had a net margin of 31.21% and a return on equity of 11.49%. On average, research analysts expect that CION Investment Co. will post 1.78 earnings per share for the current year.

CION Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 14.78%. The ex-dividend date is Monday, June 2nd. CION Investment’s dividend payout ratio is presently -496.55%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company reduced their target price on CION Investment from $10.00 to $9.00 and set an “underweight” rating for the company in a report on Monday, April 28th.

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.