CION Investment Co. (NYSE:CION) Stock Position Lifted by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S increased its position in CION Investment Co. (NYSE:CION - Free Report) by 36.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 134,367 shares of the company's stock after purchasing an additional 36,227 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned 0.25% of CION Investment worth $1,532,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Invesco Ltd. bought a new stake in shares of CION Investment in the 4th quarter valued at approximately $11,882,000. Wells Fargo & Company MN boosted its holdings in CION Investment by 6,958.9% in the fourth quarter. Wells Fargo & Company MN now owns 722,201 shares of the company's stock worth $8,233,000 after purchasing an additional 711,970 shares during the period. Wealthfront Advisers LLC bought a new stake in CION Investment during the fourth quarter valued at $6,899,000. Raymond James Financial Inc. acquired a new stake in shares of CION Investment during the fourth quarter worth $1,711,000. Finally, Hennion & Walsh Asset Management Inc. lifted its position in shares of CION Investment by 14.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 504,411 shares of the company's stock worth $5,750,000 after buying an additional 62,365 shares during the last quarter. Institutional investors and hedge funds own 32.01% of the company's stock.

CION Investment Price Performance

Shares of NYSE CION traded down $0.02 during mid-day trading on Monday, hitting $10.06. The company had a trading volume of 99,931 shares, compared to its average volume of 253,757. The stock has a market cap of $533.50 million, a price-to-earnings ratio of 6.84 and a beta of 1.17. The firm's 50 day simple moving average is $10.76 and its two-hundred day simple moving average is $11.31. CION Investment Co. has a 12 month low of $8.51 and a 12 month high of $12.71.

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

CION Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a $0.36 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $1.44 annualized dividend and a dividend yield of 14.31%. CION Investment's payout ratio is currently 228.57%.

Wall Street Analyst Weigh In

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

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.