D. E. Shaw & Co. Inc. Acquires 62,594 Shares of CION Investment Co. (NYSE:CION)

D. E. Shaw & Co. Inc. boosted its stake in shares of CION Investment Co. (NYSE:CION) by 481.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 75,582 shares of the company’s stock after buying an additional 62,594 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.14% of CION Investment worth $862,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CION. Golden State Wealth Management LLC purchased a new stake in CION Investment in the 4th quarter valued at about $96,000. Aquatic Capital Management LLC purchased a new position in CION Investment during the fourth quarter valued at approximately $103,000. Coppell Advisory Solutions LLC boosted its position in CION Investment by 11.1% during the fourth quarter. Coppell Advisory Solutions LLC now owns 10,966 shares of the company’s stock valued at $123,000 after purchasing an additional 1,093 shares in the last quarter. GWN Securities Inc. purchased a new stake in shares of CION Investment during the fourth quarter valued at about $124,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of CION Investment during the 4th quarter worth approximately $127,000. Hedge funds and other institutional investors own 32.01% of the company’s stock.

CION Investment Trading Up 0.5%

Shares of NYSE:CION opened at $9.59 on Friday. The business has a 50 day moving average of $9.82 and a two-hundred day moving average of $11.02. CION Investment Co. has a 12-month low of $8.51 and a 12-month high of $12.71. The company has a market capitalization of $505.00 million, a PE ratio of 6.52 and a beta of 1.18.

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

CION Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 15.02%. The ex-dividend date of this dividend is Monday, June 2nd. CION Investment’s dividend payout ratio is currently -496.55%.

Analysts Set New Price Targets

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

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.