Arkadios Wealth Advisors Has $3.30 Million Stock Holdings in CION Investment Corporation (NYSE:CION)

Key Points

• Arkadios Wealth Advisors increased its holdings in CION Investment Corporation by 8.9%, now owning 318,983 shares valued at approximately $3.3 million.
• CION Investment recently announced a quarterly dividend of $0.36 per share, with a significant annualized yield of 14.72%, despite a negative payout ratio.
• Wells Fargo & Company lowered its target price for CION Investment from $10.00 to $9.00 and assigned an "underweight" rating on the stock.

Arkadios Wealth Advisors grew its holdings in CION Investment Corporation (NYSE:CION - Free Report) by 8.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 318,983 shares of the company's stock after acquiring an additional 26,019 shares during the quarter. Arkadios Wealth Advisors owned 0.60% of CION Investment worth $3,301,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Hollencrest Capital Management bought a new stake in shares of CION Investment in the first quarter worth about $31,000. Ameriflex Group Inc. bought a new position in shares of CION Investment during the fourth quarter worth about $55,000. Aquatic Capital Management LLC bought a new position in shares of CION Investment during the fourth quarter worth about $103,000. Golden State Wealth Management LLC grew its holdings in shares of CION Investment by 18.9% during the first quarter. Golden State Wealth Management LLC now owns 10,031 shares of the company's stock worth $104,000 after buying an additional 1,597 shares in the last quarter. Finally, Coppell Advisory Solutions LLC grew its holdings in shares of CION Investment by 11.1% during the fourth quarter. Coppell Advisory Solutions LLC now owns 10,966 shares of the company's stock worth $123,000 after buying an additional 1,093 shares in the last quarter. 32.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

CION Investment Trading Up 1.3%

Shares of CION traded up $0.13 during mid-day trading on Monday, reaching $9.75. The company's stock had a trading volume of 81,243 shares, compared to its average volume of 326,366. CION Investment Corporation has a 1-year low of $8.51 and a 1-year high of $12.71. The stock has a market cap of $513.46 million, a P/E ratio of -33.62 and a beta of 1.11. The business has a 50-day simple moving average of $9.58 and a two-hundred day simple moving average of $10.35.

CION Investment (NYSE:CION - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.01). CION Investment had a negative net margin of 6.49% and a positive return on equity of 10.07%. The business had revenue of $56.07 million during the quarter, compared to analyst estimates of $54.15 million. Research analysts anticipate that CION Investment Corporation will post 1.78 EPS for the current year.

CION Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 14.8%. The ex-dividend date of this dividend was Monday, June 2nd. CION Investment's dividend payout ratio (DPR) is presently -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.