Cetera Investment Advisers Sells 30,266 Shares of CION Investment Co. (NYSE:CION)

Cetera Investment Advisers lessened its holdings in CION Investment Co. (NYSE:CION - Free Report) by 10.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 259,744 shares of the company's stock after selling 30,266 shares during the period. Cetera Investment Advisers owned about 0.49% of CION Investment worth $2,961,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new position in CION Investment in the fourth quarter valued at about $96,000. Aquatic Capital Management LLC bought a new position in CION Investment in the fourth quarter valued at about $103,000. GWN Securities Inc. bought a new position in CION Investment in the fourth quarter valued at about $124,000. Coppell Advisory Solutions LLC grew its position in CION Investment by 11.1% in the fourth quarter. Coppell Advisory Solutions LLC now owns 10,966 shares of the company's stock valued at $123,000 after acquiring an additional 1,093 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in CION Investment in the fourth quarter valued at about $127,000. Institutional investors own 32.01% of the company's stock.

Analyst Upgrades and Downgrades

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

CION Investment Trading Up 0.9%

Shares of CION stock opened at $9.83 on Friday. The business's 50-day moving average price is $9.98 and its 200-day moving average price is $11.09. CION Investment Co. has a 12 month low of $8.51 and a 12 month high of $12.71. The firm has a market capitalization of $517.65 million, a price-to-earnings ratio of 6.68 and a beta of 1.18.

CION Investment (NYSE:CION - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.01). CION Investment had a net margin of 31.21% and a return on equity of 11.49%. The firm had revenue of $56.07 million for the quarter, compared to analyst estimates of $54.15 million. On average, sell-side analysts predict that CION Investment Co. will post 1.78 earnings per share for the current fiscal year.

CION Investment Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 14.66%. The ex-dividend date is Monday, June 2nd. CION Investment's payout ratio is -496.55%.

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.

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