CION Investment Corporation $CION Holdings Boosted by Berger Financial Group Inc

Key Points

• Berger Financial Group Inc increased its holdings in CION Investment Corporation by 27.6% during Q2, owning approximately 487,404 shares valued at $4.66 million.
• CION Investment Corporation reported a quarterly earnings per share (EPS) of $0.32, falling short of the consensus estimate of $0.34, with revenue of $52.24 million.
• The company declared a quarterly dividend of $0.36 with an annualized basis yielding 15.1%, despite a negative dividend payout ratio of -757.89%.

Berger Financial Group Inc grew its holdings in CION Investment Corporation (NYSE:CION - Free Report) by 27.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 487,404 shares of the company's stock after purchasing an additional 105,478 shares during the period. Berger Financial Group Inc owned approximately 0.93% of CION Investment worth $4,664,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CION. TT Capital Management LLC raised its position in CION Investment by 4.4% during the first quarter. TT Capital Management LLC now owns 30,998 shares of the company's stock valued at $321,000 after buying an additional 1,300 shares during the period. Golden State Wealth Management LLC increased its holdings in shares of CION Investment by 18.9% in the 1st quarter. Golden State Wealth Management LLC now owns 10,031 shares of the company's stock valued at $104,000 after purchasing an additional 1,597 shares during the period. Apollon Wealth Management LLC increased its holdings in shares of CION Investment by 3.2% in the 1st quarter. Apollon Wealth Management LLC now owns 54,457 shares of the company's stock valued at $564,000 after purchasing an additional 1,710 shares during the period. Beacon Capital Management LLC lifted its position in shares of CION Investment by 7.7% in the second quarter. Beacon Capital Management LLC now owns 33,404 shares of the company's stock worth $320,000 after purchasing an additional 2,374 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of CION Investment during the first quarter worth approximately $27,000. Institutional investors and hedge funds own 32.01% of the company's stock.

CION Investment Price Performance

CION Investment stock opened at $9.52 on Friday. CION Investment Corporation has a one year low of $8.51 and a one year high of $12.71. The company's fifty day moving average price is $10.14 and its two-hundred day moving average price is $9.84. The company has a market capitalization of $495.87 million, a price-to-earnings ratio of -50.10 and a beta of 1.08.

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

CION Investment Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were given a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 15.1%. CION Investment's dividend payout ratio (DPR) is currently -757.89%.

Analyst Ratings Changes

CION has been the subject of a number of research reports. Wall Street Zen raised shares of CION Investment from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Wells Fargo & Company reissued an "underweight" rating and set a $8.50 price objective (down previously from $9.00) on shares of CION Investment in a research report on Tuesday, August 12th. Weiss Ratings restated a "hold (c-)" rating on shares of CION Investment in a research note on Saturday, September 27th. Finally, Zacks Research raised CION Investment from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $10.75.

CION Investment Company 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.

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