Belpointe Asset Management LLC Has $150,000 Stock Holdings in CION Investment Corporation $CION

Belpointe Asset Management LLC reduced its position in CION Investment Corporation (NYSE:CION) by 12.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 14,456 shares of the company’s stock after selling 2,000 shares during the period. Belpointe Asset Management LLC’s holdings in CION Investment were worth $150,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CION. Advisors Asset Management Inc. boosted its holdings in CION Investment by 11.1% in the first quarter. Advisors Asset Management Inc. now owns 134,665 shares of the company’s stock valued at $1,394,000 after acquiring an additional 13,466 shares during the last quarter. Focus Partners Advisor Solutions LLC acquired a new position in CION Investment during the 1st quarter valued at about $211,000. Quarry LP bought a new position in shares of CION Investment in the 1st quarter valued at about $27,000. Magnetar Financial LLC bought a new stake in shares of CION Investment during the first quarter worth approximately $518,000. Finally, WPG Advisers LLC acquired a new position in CION Investment in the first quarter valued at approximately $36,000. Institutional investors and hedge funds own 32.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wall Street Zen raised shares of CION Investment from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Zacks Research upgraded CION Investment from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 21st. Finally, Wells Fargo & Company reiterated an “underweight” rating and issued a $8.50 price objective (down previously from $9.00) on shares of CION Investment in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, CION Investment currently has a consensus rating of “Hold” and an average target price of $10.75.

CION Investment Trading Up 0.3%

Shares of CION opened at $9.80 on Wednesday. The company’s fifty day simple moving average is $10.22 and its 200 day simple moving average is $10.03. CION Investment Corporation has a 1-year low of $8.51 and a 1-year high of $12.71. The company has a market cap of $510.48 million, a price-to-earnings ratio of -51.58 and a beta of 1.12.

CION Investment (NYSE:CION) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). CION Investment had a negative net margin of 4.57% and a positive return on equity of 9.63%. The business had revenue of $52.24 million during the quarter, compared to the consensus estimate of $53.34 million. As a group, research analysts forecast that CION Investment Corporation will post 1.78 earnings per share for the current year.

CION Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.44 annualized dividend and a yield of 14.7%. CION Investment’s dividend payout ratio (DPR) is currently -757.89%.

CION Investment 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.