Berger Financial Group Inc Has $3.95 Million Position in CION Investment Corporation (NYSE:CION)

Key Points

• Berger Financial Group Inc increased its stake in CION Investment Corporation by 17.0%, acquiring an additional 55,492 shares, bringing its total holdings to approximately 381,926 shares valued at $3,953,000.
• CION Investment's stock has a market cap of $564.57 million and is currently trading at $10.72, with a one-year high of $12.71 and a low of $8.51.
• The company announced a quarterly dividend of $0.36 per share, translating to an annualized yield of 13.4%, although it currently has a negative payout ratio of -496.55%.

Berger Financial Group Inc grew its position in shares of CION Investment Corporation (NYSE:CION - Free Report) by 17.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 381,926 shares of the company's stock after purchasing an additional 55,492 shares during the quarter. Berger Financial Group Inc owned approximately 0.72% of CION Investment worth $3,953,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in CION. Hollencrest Capital Management purchased a new position in shares of CION Investment during the first quarter worth about $31,000. Ameriflex Group Inc. purchased a new position in shares of CION Investment during the fourth quarter worth about $55,000. Aquatic Capital Management LLC purchased 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 during the last quarter. Finally, Efficient Advisors LLC purchased a new stake in CION Investment in the 1st quarter valued at approximately $121,000. Hedge funds and other institutional investors own 32.01% of the company's stock.

CION Investment Trading Up 0.2%

NYSE CION traded up $0.03 during trading hours on Monday, reaching $10.77. The company's stock had a trading volume of 319,275 shares, compared to its average volume of 258,222. The business has a 50-day simple moving average of $9.66 and a 200 day simple moving average of $10.30. CION Investment Corporation has a 52 week low of $8.51 and a 52 week high of $12.71. The stock has a market cap of $560.75 million, a PE ratio of -56.65 and a beta of 1.11.

CION Investment (NYSE:CION - Get Free Report) last issued its earnings results 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 9.49% and a negative net margin of 4.57%. The company had revenue of $52.24 million during the quarter, compared to analyst estimates of $53.34 million. As a group, equities analysts predict that CION Investment Corporation will post 1.78 EPS for the current year.

CION Investment Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 13.4%. The ex-dividend date of this dividend is Tuesday, September 2nd. CION Investment's dividend payout ratio is -757.89%.

Wall Street Analysts Forecast Growth

CION has been the subject of several analyst reports. Wall Street Zen upgraded CION Investment from a "sell" rating to a "hold" rating in a report on Saturday. Wells Fargo & Company dropped their target price on CION Investment from $10.00 to $9.00 and set an "underweight" rating on the stock in a research report on Monday, April 28th.

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.