CF Capital LLC Purchases New Holdings in CION Investment Co. (NYSE:CION)

CF Capital LLC purchased a new position in shares of CION Investment Co. (NYSE:CION - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 421,801 shares of the company's stock, valued at approximately $4,809,000. CION Investment accounts for about 5.2% of CF Capital LLC's holdings, making the stock its 4th largest position. CF Capital LLC owned about 0.79% of CION Investment at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Jane Street Group LLC acquired a new stake in shares of CION Investment during the 3rd quarter valued at approximately $161,000. Virtu Financial LLC acquired a new stake in CION Investment in the 3rd quarter valued at approximately $127,000. Franklin Resources Inc. increased its holdings in shares of CION Investment by 13.6% during the third quarter. Franklin Resources Inc. now owns 358,956 shares of the company's stock valued at $4,261,000 after purchasing an additional 43,076 shares during the period. JPMorgan Chase & Co. lifted its holdings in CION Investment by 108.2% in the third quarter. JPMorgan Chase & Co. now owns 19,488 shares of the company's stock worth $232,000 after purchasing an additional 10,129 shares during the period. Finally, Winthrop Advisory Group LLC bought a new position in CION Investment in the 4th quarter valued at about $195,000. Institutional investors and hedge funds own 32.01% of the company's stock.

CION Investment Trading Down 1.2 %

CION stock traded down $0.12 during mid-day trading on Wednesday, reaching $9.71. 272,654 shares of the stock traded hands, compared to its average volume of 256,226. The stock's fifty day moving average is $10.36 and its 200-day moving average is $11.20. CION Investment Co. has a 52-week low of $8.51 and a 52-week high of $12.71. The company has a market cap of $514.89 million, a P/E ratio of 6.61 and a beta of 1.18.

CION Investment (NYSE:CION - Get Free Report) last issued its quarterly earnings results on Thursday, March 13th. The company reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.01). CION Investment had a net margin of 31.21% and a return on equity of 11.49%. The business had revenue of $87.91 million for the quarter, compared to analysts' expectations of $54.11 million. Equities research analysts expect that CION Investment Co. will post 1.78 earnings per share for the current year.

CION Investment Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 14.83%. The ex-dividend date of this dividend was Friday, March 28th. CION Investment's dividend payout ratio is currently 228.57%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company dropped their price objective on CION Investment from $10.00 to $9.00 and set an "underweight" rating on the stock in a research note on Monday, April 28th.

About CION Investment

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.