50,023 Shares in CION Investment Corporation $CION Acquired by Magnetar Financial LLC

Key Points

• Magnetar Financial LLC has acquired 50,023 shares of CION Investment Corporation, valued at approximately $518,000, representing 0.09% ownership in the company.
• CION Investment recently reported quarterly earnings of $0.32 EPS, falling short of analyst expectations by $0.02, with a revenue of $52.24 million.
• The company declared a quarterly dividend of $0.36 per share, scheduled for distribution on September 16th, with a significant dividend yield of 13.3%.

Magnetar Financial LLC acquired a new stake in shares of CION Investment Corporation (NYSE:CION - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 50,023 shares of the company's stock, valued at approximately $518,000. Magnetar Financial LLC owned approximately 0.09% of CION Investment at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. WPG Advisers LLC bought a new stake in CION Investment during the 1st quarter valued at about $36,000. OMERS ADMINISTRATION Corp bought a new stake in CION Investment during the 1st quarter valued at about $142,000. Wealth Preservation Advisors LLC purchased a new position in CION Investment during the 1st quarter valued at about $32,000. North Ground Capital increased its position in CION Investment by 37.8% during the 1st quarter. North Ground Capital now owns 581,100 shares of the company's stock valued at $5,840,000 after purchasing an additional 159,299 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S increased its position in CION Investment by 37.0% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 184,026 shares of the company's stock valued at $1,905,000 after purchasing an additional 49,659 shares during the period. Institutional investors own 32.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wall Street Zen raised shares of CION Investment from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Zacks Research raised shares of CION Investment from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 21st. Finally, Wells Fargo & Company reissued an "underweight" rating and set a $8.50 target price (down previously from $9.00) on shares of CION Investment in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $10.75.

CION Investment Stock Down 0.6%

Shares of CION Investment stock traded down $0.06 on Friday, reaching $10.25. The stock had a trading volume of 190,833 shares, compared to its average volume of 277,367. The company has a 50 day moving average price of $10.18 and a 200 day moving average price of $10.15. CION Investment Corporation has a 1 year low of $8.51 and a 1 year high of $12.71. The stock has a market capitalization of $534.08 million, a P/E ratio of -53.96 and a beta of 1.12.

CION Investment (NYSE:CION - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.02). CION Investment had a positive return on equity of 9.63% and a negative net margin of 4.57%.The firm had revenue of $52.24 million during the quarter, compared to analysts' expectations of $53.34 million. On average, analysts forecast that CION Investment Corporation will post 1.78 earnings per share for the current fiscal year.

CION Investment Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid a $0.36 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.44 dividend on an annualized basis and a yield of 14.0%. CION Investment's dividend payout ratio (DPR) is -757.89%.

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.