CION Investment Corporation (NYSE:CION) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers lowered its holdings in shares of CION Investment Corporation (NYSE:CION) by 2.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 252,994 shares of the company’s stock after selling 6,750 shares during the period. Cetera Investment Advisers owned about 0.48% of CION Investment worth $2,618,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Coppell Advisory Solutions LLC raised 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 worth $123,000 after acquiring an additional 1,093 shares during the last quarter. TT Capital Management LLC raised its position in CION Investment by 4.4% during the first quarter. TT Capital Management LLC now owns 30,998 shares of the company’s stock worth $321,000 after acquiring an additional 1,300 shares during the last quarter. Golden State Wealth Management LLC raised its position in CION Investment by 18.9% during the first quarter. Golden State Wealth Management LLC now owns 10,031 shares of the company’s stock worth $104,000 after acquiring an additional 1,597 shares during the last quarter. Apollon Wealth Management LLC raised its position in CION Investment by 3.2% during the first quarter. Apollon Wealth Management LLC now owns 54,457 shares of the company’s stock worth $564,000 after acquiring an additional 1,710 shares during the last quarter. Finally, Townsquare Capital LLC grew its holdings in shares of CION Investment by 7.8% during the fourth quarter. Townsquare Capital LLC now owns 33,883 shares of the company’s stock worth $386,000 after buying an additional 2,445 shares in the last quarter. Institutional investors and hedge funds own 32.01% of the company’s stock.

Analyst Ratings Changes

Separately, Wells Fargo & Company lowered their price target on shares of 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 Price Performance

Shares of NYSE CION opened at $9.87 on Thursday. The company has a market cap of $519.79 million, a PE ratio of -34.02 and a beta of 1.11. CION Investment Corporation has a 12 month low of $8.51 and a 12 month high of $12.71. The company has a 50-day simple moving average of $9.59 and a 200-day simple moving average of $10.34.

CION Investment (NYSE:CION) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The firm had revenue of $56.07 million for the quarter, compared to analysts’ expectations of $54.15 million. CION Investment had a positive return on equity of 10.07% and a negative net margin of 6.49%. On average, analysts anticipate that CION Investment Corporation will post 1.78 EPS for the current year.

CION Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.36 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 14.6%. CION Investment’s payout ratio is -496.55%.

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.