Y Intercept Hong Kong Ltd Boosts Holdings in CION Investment Corporation $CION

Y Intercept Hong Kong Ltd increased its holdings in CION Investment Corporation (NYSE:CION) by 381.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,351 shares of the company’s stock after purchasing an additional 50,186 shares during the period. Y Intercept Hong Kong Ltd owned 0.12% of CION Investment worth $606,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Quarry LP purchased a new stake in shares of CION Investment during the 1st quarter worth approximately $27,000. Hollencrest Capital Management purchased a new stake in shares of CION Investment during the 1st quarter worth approximately $31,000. Wealth Preservation Advisors LLC purchased a new stake in shares of CION Investment during the 1st quarter worth approximately $32,000. WPG Advisers LLC purchased a new stake in shares of CION Investment during the 1st quarter worth approximately $36,000. Finally, Elevatus Welath Management purchased a new stake in shares of CION Investment during the 1st quarter worth approximately $115,000. 32.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on CION. Wall Street Zen raised CION Investment from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CION Investment in a report on Wednesday, October 8th. Zacks Research cut CION Investment from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Finally, Wells Fargo & Company reaffirmed an “underweight” rating and set a $8.50 price objective (down from $9.00) on shares of CION Investment in a report on Tuesday, August 12th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $8.50.

CION Investment Stock Performance

NYSE:CION opened at $9.12 on Thursday. The stock’s fifty day moving average is $9.66 and its 200 day moving average is $9.76. CION Investment Corporation has a fifty-two week low of $8.51 and a fifty-two week high of $12.71. The firm has a market capitalization of $475.19 million, a PE ratio of -48.01 and a beta of 1.08.

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

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.