CION Investment Corporation $CION Shares Acquired by Advisors Asset Management Inc.

Advisors Asset Management Inc. increased its position in shares of CION Investment Corporation (NYSE:CION) by 63.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 219,520 shares of the company’s stock after purchasing an additional 84,855 shares during the quarter. Advisors Asset Management Inc. owned 0.42% of CION Investment worth $2,101,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. North Ground Capital boosted its position in shares of CION Investment by 37.8% in the 1st quarter. North Ground Capital now owns 581,100 shares of the company’s stock worth $5,840,000 after buying an additional 159,299 shares in the last quarter. Berger Financial Group Inc lifted its holdings in shares of CION Investment by 27.6% in the second quarter. Berger Financial Group Inc now owns 487,404 shares of the company’s stock valued at $4,664,000 after purchasing an additional 105,478 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of CION Investment by 98.8% in the second quarter. Envestnet Asset Management Inc. now owns 199,905 shares of the company’s stock valued at $1,913,000 after purchasing an additional 99,364 shares during the last quarter. Financial Gravity Companies Inc. purchased a new position in shares of CION Investment during the 2nd quarter worth approximately $934,000. Finally, Whipplewood Advisors LLC increased its stake in shares of CION Investment by 208,880.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 52,245 shares of the company’s stock worth $500,000 after purchasing an additional 52,220 shares in the last quarter. 32.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on CION shares. Weiss Ratings reissued a “hold (c)” rating on shares of CION Investment in a research report on Wednesday. Wells Fargo & Company reaffirmed an “underweight” rating and set a $8.50 price objective (down previously from $9.00) on shares of CION Investment in a research note on Tuesday, August 12th. 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. Finally, Zacks Research upgraded shares of CION Investment from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $8.50.

CION Investment Stock Performance

CION opened at $10.24 on Friday. CION Investment Corporation has a 1 year low of $8.51 and a 1 year high of $12.71. The company’s 50 day simple moving average is $9.57 and its 200 day simple moving average is $9.77. The stock has a market capitalization of $533.37 million, a PE ratio of -53.89 and a beta of 1.08.

CION Investment (NYSE:CION) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.39. CION Investment had a negative net margin of 4.57% and a positive return on equity of 9.63%. The company had revenue of $78.71 million for the quarter, compared to analyst estimates of $52.41 million. As a group, sell-side analysts expect that CION Investment Corporation will post 1.78 earnings per share 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 $0.36 dividend. The ex-dividend date is Monday, December 1st. This represents a $1.44 dividend on an annualized basis and a yield of 14.1%. CION Investment’s dividend payout ratio (DPR) is presently 282.35%.

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.