Alpine Global Management LLC Has $4.37 Million Stock Position in CION Investment Co. (NYSE:CION)

Alpine Global Management LLC increased its stake in CION Investment Co. (NYSE:CION - Free Report) by 42.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 383,632 shares of the company's stock after acquiring an additional 113,632 shares during the period. CION Investment makes up 0.9% of Alpine Global Management LLC's investment portfolio, making the stock its 18th largest position. Alpine Global Management LLC owned about 0.72% of CION Investment worth $4,373,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new stake in CION Investment during the 4th quarter valued at $96,000. Aquatic Capital Management LLC bought a new stake in shares of CION Investment during the 4th quarter valued at about $103,000. GWN Securities Inc. bought a new stake in shares of CION Investment in the 4th quarter worth approximately $124,000. Coppell Advisory Solutions LLC lifted its stake in CION Investment by 11.1% in the fourth quarter. Coppell Advisory Solutions LLC now owns 10,966 shares of the company's stock valued at $123,000 after buying an additional 1,093 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in CION Investment during the 4th quarter valued at about $127,000. 32.01% of the stock is currently owned by hedge funds and other institutional investors.

CION Investment Trading Up 0.1%

CION stock traded up $0.01 during mid-day trading on Wednesday, hitting $9.71. The stock had a trading volume of 114,057 shares, compared to its average volume of 257,941. The stock has a market capitalization of $511.59 million, a price-to-earnings ratio of 6.61 and a beta of 1.18. The company has a fifty day moving average of $9.77 and a 200 day moving average of $10.99. CION Investment Co. has a 1-year low of $8.51 and a 1-year high of $12.71.

CION Investment (NYSE:CION - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $56.07 million for the quarter, compared to analyst estimates of $54.15 million. CION Investment had a net margin of 31.21% and a return on equity of 11.49%. As a group, sell-side analysts expect that CION Investment Co. will post 1.78 earnings per share for the current fiscal year.

CION Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.44 annualized dividend and a yield of 14.83%. CION Investment's dividend payout ratio is -496.55%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company reduced their price target on shares of CION Investment from $10.00 to $9.00 and set an "underweight" rating for the company in a research note 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.