CION Investment Corporation $CION Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers trimmed its holdings in CION Investment Corporation (NYSE:CION) by 2.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 247,703 shares of the company’s stock after selling 5,291 shares during the quarter. Cetera Investment Advisers’ holdings in CION Investment were worth $2,371,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. HighTower Advisors LLC grew its position in CION Investment by 72.1% in the first quarter. HighTower Advisors LLC now owns 39,500 shares of the company’s stock worth $409,000 after buying an additional 16,544 shares during the last quarter. Avantax Advisory Services Inc. acquired a new position in shares of CION Investment in the 1st quarter worth $271,000. Berger Financial Group Inc raised its position in shares of CION Investment by 27.6% during the second quarter. Berger Financial Group Inc now owns 487,404 shares of the company’s stock worth $4,664,000 after purchasing an additional 105,478 shares during the period. Y Intercept Hong Kong Ltd lifted its holdings in shares of CION Investment by 381.2% during the second quarter. Y Intercept Hong Kong Ltd now owns 63,351 shares of the company’s stock valued at $606,000 after purchasing an additional 50,186 shares during the last quarter. Finally, 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 valued at $5,840,000 after purchasing an additional 159,299 shares during the period. 32.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CION shares. Weiss Ratings restated a “hold (c)” rating on shares of CION Investment in a report on Wednesday. Wall Street Zen upgraded shares of CION Investment from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 22nd. Zacks Research raised shares of CION Investment from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 12th. Finally, Wells Fargo & Company reissued an “underweight” rating and set a $8.50 target price (down from $9.00) on shares of CION Investment in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $8.50.

CION Investment Price Performance

NYSE CION opened at $10.24 on Friday. The firm has a market capitalization of $533.37 million, a price-to-earnings ratio of -53.89 and a beta of 1.08. The company has a 50 day simple moving average of $9.57 and a 200-day simple moving average of $9.77. CION Investment Corporation has a 52-week low of $8.51 and a 52-week high of $12.71.

CION Investment (NYSE:CION) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $78.71 million for the quarter, compared to analyst estimates of $52.41 million. On average, analysts predict that CION Investment Corporation will post 1.78 EPS for the current year.

CION Investment Dividend Announcement

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

CION Investment Company 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.