CION Investment Corporation $CION Stock Holdings Cut by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. sold 43,800 shares of CION Investment Corporation, reducing its holdings by 59.5%, and now owns approximately 0.06% of the company, valued at $308,000.
• CION Investment reported earnings of $0.32 per share, missing analyst estimates of $0.34, and had revenue of $52.24 million compared to expectations of $53.34 million.
• The company announced a quarterly dividend of $0.36 per share, representing a yield of 13.8%, with a dividend payout ratio currently at -757.89%.

Atria Wealth Solutions Inc. cut its position in shares of CION Investment Corporation (NYSE:CION - Free Report) by 59.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,755 shares of the company's stock after selling 43,800 shares during the quarter. Atria Wealth Solutions Inc. owned about 0.06% of CION Investment worth $308,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arkadios Wealth Advisors increased its stake in CION Investment by 8.9% during the first quarter. Arkadios Wealth Advisors now owns 318,983 shares of the company's stock worth $3,301,000 after acquiring an additional 26,019 shares during the last quarter. LPL Financial LLC increased its stake in CION Investment by 2.7% during the first quarter. LPL Financial LLC now owns 992,946 shares of the company's stock worth $10,277,000 after acquiring an additional 25,706 shares during the last quarter. Avantax Advisory Services Inc. acquired a new stake in CION Investment during the first quarter worth about $271,000. AE Wealth Management LLC increased its stake in CION Investment by 17.4% during the first quarter. AE Wealth Management LLC now owns 32,079 shares of the company's stock worth $332,000 after acquiring an additional 4,759 shares during the last quarter. Finally, Wedbush Securities Inc. increased its stake in CION Investment by 31.3% during the first quarter. Wedbush Securities Inc. now owns 16,350 shares of the company's stock worth $169,000 after acquiring an additional 3,900 shares during the last quarter. 32.01% of the stock is currently owned by institutional investors and hedge funds.

CION Investment Price Performance

CION traded up $0.0050 on Wednesday, reaching $10.5750. The company's stock had a trading volume of 175,276 shares, compared to its average volume of 262,882. The stock has a market cap of $550.85 million, a price-to-earnings ratio of -55.65 and a beta of 1.11. CION Investment Corporation has a 1 year low of $8.51 and a 1 year high of $12.71. The business's 50 day moving average is $9.87 and its 200 day moving average is $10.27.

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

CION Investment Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 13.6%. The ex-dividend date is Tuesday, September 2nd. CION Investment's dividend payout ratio is presently -757.89%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CION shares. Wall Street Zen raised CION Investment from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Wells Fargo & Company reaffirmed an "underweight" rating and issued a $8.50 target price (down previously from $9.00) on shares of CION Investment in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, CION Investment currently has a consensus rating of "Reduce" and a consensus price target of $10.75.

CION Investment 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.