BlackRock Inc. acquired a new stake in CION Investment Corporation (NYSE:CION - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 195,515 shares of the company's stock, valued at approximately $1,218,000. BlackRock Inc. owned 0.39% of CION Investment as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the stock. OneDigital Investment Advisors LLC purchased a new position in CION Investment during the second quarter valued at approximately $73,000. Trivium Point Advisory LLC purchased a new stake in CION Investment in the 2nd quarter worth approximately $175,000. Global Retirement Partners LLC acquired a new stake in shares of CION Investment during the 2nd quarter worth approximately $87,000. Focus Partners Advisor Solutions LLC acquired a new stake in shares of CION Investment during the 2nd quarter worth approximately $120,000. Finally, Empowered Funds LLC purchased a new position in shares of CION Investment during the 1st quarter valued at approximately $87,000. Hedge funds and other institutional investors own 32.01% of the company's stock.
CION Investment Stock Up 0.5%
CION opened at $7.38 on Monday. The company has a market cap of $363.10 million, a PE ratio of 123.00 and a beta of 1.14. CION Investment Corporation has a twelve month low of $5.83 and a twelve month high of $10.40. The company has a 50-day moving average price of $6.75 and a 200 day moving average price of $7.03.
CION Investment (NYSE:CION - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.26 by $0.03. CION Investment had a return on equity of 11.95% and a net margin of 1.17%.The firm had revenue of $49.79 million during the quarter, compared to the consensus estimate of $49.78 million. As a group, sell-side analysts expect that CION Investment Corporation will post 1.08 earnings per share for the current year.
CION Investment Dividend Announcement
The firm also recently declared a monthly dividend, which will be paid on Monday, December 28th. Investors of record on Friday, December 11th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, December 11th. This represents a c) dividend on an annualized basis and a yield of 16.3%. CION Investment's payout ratio is presently 2,000.00%.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on CION shares. Zacks Research downgraded shares of CION Investment from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 29th. Wells Fargo & Company dropped their target price on CION Investment from $7.00 to $6.50 and set an "underweight" rating on the stock in a research report on Monday, May 11th. Finally, Weiss Ratings upgraded CION Investment from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, August 11th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $6.50.
Get Our Latest Stock Analysis on CION
CION Investment Profile
(
Free Report)
CION Investment Corporation is a closed‐end, non‐diversified management investment company organized as a business development company under the Investment Company Act of 1940. Externally managed by CION Investment Management, LLC, the firm specializes in providing flexible capital solutions to U.S. and Canadian middle‐market companies. By combining debt and equity financing, CION seeks to support growth, acquisitions, recapitalizations and other strategic initiatives for its portfolio companies.
The company’s investment strategy centers on senior secured loans, subordinated debt and private equity interests.
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