CION Investment Corporation $CION Stake Cut by Cetera Investment Advisers

Cetera Investment Advisers decreased its holdings in shares of CION Investment Corporation (NYSE:CION) by 2.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 247,703 shares of the company’s stock after selling 5,291 shares during the period. Cetera Investment Advisers owned about 0.47% of CION Investment worth $2,371,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CION. Quarry LP bought a new stake in shares of CION Investment during the 1st quarter valued at about $27,000. Wealth Preservation Advisors LLC acquired a new position in CION Investment in the first quarter valued at approximately $32,000. WPG Advisers LLC bought a new position in shares of CION Investment during the first quarter valued at approximately $36,000. Legacy Investment Solutions LLC acquired a new stake in shares of CION Investment during the 2nd quarter worth approximately $74,000. Finally, Daymark Wealth Partners LLC bought a new stake in shares of CION Investment in the 2nd quarter worth approximately $98,000. 32.01% of the stock is currently owned by institutional investors.

CION Investment Stock Performance

Shares of CION opened at $10.24 on Friday. CION Investment Corporation has a one year low of $8.51 and a one year high of $12.71. The stock’s fifty day moving average is $9.57 and its 200-day moving average is $9.77. The firm has a market capitalization of $533.37 million, a price-to-earnings ratio of -53.89 and a beta of 1.08.

CION Investment (NYSE:CION) last announced its earnings results on Thursday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.39. The firm had revenue of $78.71 million during the quarter, compared to analyst estimates of $52.41 million. CION Investment had a negative net margin of 4.57% and a positive return on equity of 9.63%. Analysts forecast that CION Investment Corporation will post 1.78 EPS for the current fiscal year.

CION Investment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.44 annualized dividend and a yield of 14.1%. CION Investment’s payout ratio is presently 282.35%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CION shares. Weiss Ratings restated a “hold (c)” rating on shares of CION Investment in a research note on Wednesday. Zacks Research upgraded shares of CION Investment from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 12th. Wells Fargo & Company reaffirmed 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. Finally, Wall Street Zen raised shares of CION Investment from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 22nd. One equities research 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. Based on data from MarketBeat, CION Investment has an average rating of “Hold” and an average target price of $8.50.

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.