CION Investment Corporation $CION Shares Sold by Berger Financial Group Inc

Berger Financial Group Inc trimmed its stake in shares of CION Investment Corporation (NYSE:CION) by 16.1% during the 1st quarter, Holdings Channel reports. The fund owned 406,899 shares of the company’s stock after selling 78,289 shares during the quarter. Berger Financial Group Inc’s holdings in CION Investment were worth $2,783,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Private Advisor Group LLC lifted its stake in shares of CION Investment by 16.2% in the 1st quarter. Private Advisor Group LLC now owns 860,616 shares of the company’s stock valued at $5,887,000 after purchasing an additional 119,783 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in CION Investment during the first quarter worth $259,000. Janney Montgomery Scott LLC grew its position in CION Investment by 11.1% during the first quarter. Janney Montgomery Scott LLC now owns 75,805 shares of the company’s stock valued at $519,000 after buying an additional 7,589 shares during the period. Alpine Global Management LLC increased its holdings in CION Investment by 5.6% in the fourth quarter. Alpine Global Management LLC now owns 93,836 shares of the company’s stock valued at $907,000 after buying an additional 5,000 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in CION Investment in the fourth quarter valued at $193,000. 32.01% of the stock is currently owned by hedge funds and other institutional investors.

CION Investment Stock Performance

CION Investment stock opened at $6.42 on Friday. The stock has a market capitalization of $319.40 million, a P/E ratio of -160.33 and a beta of 1.10. The company’s fifty day moving average price is $6.84 and its 200 day moving average price is $7.86. CION Investment Corporation has a 1 year low of $5.97 and a 1 year high of $10.93.

CION Investment (NYSE:CION) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). The company had revenue of $49.54 million for the quarter, compared to analyst estimates of $49.12 million. CION Investment had a positive return on equity of 11.96% and a negative net margin of 0.41%. Sell-side analysts predict that CION Investment Corporation will post 1.05 EPS for the current year.

CION Investment Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a c) dividend on an annualized basis and a dividend yield of 18.7%. CION Investment’s payout ratio is currently -3,000.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CION shares. Wall Street Zen downgraded shares of CION Investment from a “strong-buy” rating to a “hold” rating in a research report on Saturday, March 14th. Zacks Research upgraded CION Investment from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. Weiss Ratings lowered CION Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday. Finally, Wells Fargo & Company reduced their price target on CION Investment from $7.00 to $6.50 and set an “underweight” rating for the company in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $6.50.

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.