CION Investment (NYSE:CION) Trading Down 0.7% – Here’s Why

CION Investment Corporation (NYSE:CION)’s share price dropped 0.7% during mid-day trading on Monday . The company traded as low as $8.58 and last traded at $8.77. Approximately 479,009 shares changed hands during mid-day trading, an increase of 23% from the average daily volume of 388,473 shares. The stock had previously closed at $8.83.

Analyst Ratings Changes

Several brokerages have weighed in on CION. Weiss Ratings reiterated a “hold (c)” rating on shares of CION Investment in a research note on Monday, December 29th. Wall Street Zen upgraded shares of CION Investment from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 17th. Finally, Zacks Research downgraded CION Investment from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $8.50.

CION Investment Trading Down 0.7%

The company’s 50-day moving average is $9.56 and its 200-day moving average is $9.77. The firm has a market cap of $456.83 million, a price-to-earnings ratio of 17.20 and a beta of 1.07.

CION Investment Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a $0.10 dividend. The ex-dividend date is Friday, March 13th. This represents a c) annualized dividend and a dividend yield of 13.7%. CION Investment’s dividend payout ratio (DPR) is presently 235.29%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CION. Endowment Wealth Management Inc. boosted its stake in shares of CION Investment by 2.8% in the 4th quarter. Endowment Wealth Management Inc. now owns 64,505 shares of the company’s stock valued at $624,000 after purchasing an additional 1,734 shares in the last quarter. LSV Asset Management lifted its stake in CION Investment by 88.8% in the 4th quarter. LSV Asset Management now owns 352,236 shares of the company’s stock valued at $3,406,000 after purchasing an additional 165,636 shares during the last quarter. HighPoint Advisor Group LLC boosted its position in CION Investment by 2.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 162,034 shares of the company’s stock valued at $1,567,000 after buying an additional 4,330 shares in the last quarter. Bensler LLC bought a new stake in shares of CION Investment during the fourth quarter worth $115,000. Finally, Diversify Wealth Management LLC increased its holdings in shares of CION Investment by 8.2% during the fourth quarter. Diversify Wealth Management LLC now owns 133,315 shares of the company’s stock worth $1,254,000 after buying an additional 10,121 shares in the last quarter. Institutional investors and hedge funds own 32.01% of the company’s stock.

About CION Investment

CION Investment Corporation is a closed‐end, non‐diversified management investment company organized as a business development company under the Investment Company Act of 1940. Externally managed by CION Investment Management, LLC, the firm specializes in providing flexible capital solutions to U.S. and Canadian middle‐market companies. By combining debt and equity financing, CION seeks to support growth, acquisitions, recapitalizations and other strategic initiatives for its portfolio companies.

The company’s investment strategy centers on senior secured loans, subordinated debt and private equity interests.