Alpine Global Management LLC Purchases 113,632 Shares of CION Investment Co. (NYSE:CION)

Alpine Global Management LLC lifted its holdings in shares of CION Investment Co. (NYSE:CION - Free Report) by 42.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 383,632 shares of the company's stock after acquiring an additional 113,632 shares during the quarter. CION Investment accounts for about 1.0% of Alpine Global Management LLC's holdings, making the stock its 16th largest position. Alpine Global Management LLC owned about 0.72% of CION Investment worth $4,373,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of CION Investment in the 4th quarter worth approximately $1,711,000. Townsquare Capital LLC raised its stake in shares of CION Investment by 7.8% in the fourth quarter. Townsquare Capital LLC now owns 33,883 shares of the company's stock valued at $386,000 after buying an additional 2,445 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in shares of CION Investment by 14.1% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 504,411 shares of the company's stock valued at $5,750,000 after buying an additional 62,365 shares during the last quarter. A&I Financial Services LLC bought a new position in shares of CION Investment during the 4th quarter worth $386,000. Finally, Jane Street Group LLC purchased a new stake in CION Investment in the 3rd quarter worth about $161,000. Hedge funds and other institutional investors own 32.01% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company reiterated an "underweight" rating and set a $10.00 target price (down previously from $11.00) on shares of CION Investment in a research report on Monday, March 17th.

CION Investment Price Performance

Shares of CION Investment stock traded up $0.12 during trading hours on Friday, reaching $10.10. The company had a trading volume of 220,670 shares, compared to its average volume of 254,333. The firm has a market cap of $535.57 million, a PE ratio of 6.87 and a beta of 1.17. CION Investment Co. has a one year low of $8.51 and a one year high of $12.71. The business has a fifty day simple moving average of $10.76 and a 200 day simple moving average of $11.31.

CION Investment (NYSE:CION - Get Free Report) last posted its 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 company had revenue of $87.91 million for the quarter, compared to analysts' expectations of $54.11 million. On average, research analysts forecast that CION Investment Co. will post 1.78 EPS for the current year.

CION Investment Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 14.26%. The ex-dividend date was Friday, March 28th. CION Investment's dividend payout ratio is presently 228.57%.

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.