Private Advisor Group LLC Buys 71,434 Shares of CION Investment Corporation (NYSE:CION)

Private Advisor Group LLC boosted its holdings in CION Investment Corporation (NYSE:CION - Free Report) by 10.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 739,356 shares of the company's stock after buying an additional 71,434 shares during the period. Private Advisor Group LLC owned approximately 1.39% of CION Investment worth $7,652,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Hollencrest Capital Management purchased a new stake in shares of CION Investment during the first quarter valued at approximately $31,000. Ameriflex Group Inc. bought a new stake in shares of CION Investment in the 4th quarter valued at about $55,000. Aquatic Capital Management LLC acquired a new position in CION Investment during the 4th quarter valued at approximately $103,000. Golden State Wealth Management LLC increased its stake in shares of CION Investment by 18.9% in the first quarter. Golden State Wealth Management LLC now owns 10,031 shares of the company's stock worth $104,000 after acquiring an additional 1,597 shares during the period. Finally, Coppell Advisory Solutions LLC boosted its holdings in CION Investment by 11.1% during the fourth quarter. Coppell Advisory Solutions LLC now owns 10,966 shares of the company's stock worth $123,000 after buying an additional 1,093 shares in the last quarter. 32.01% of the stock is currently owned by hedge funds and other institutional investors.

CION Investment Stock Up 0.0%

Shares of CION stock traded up $0.01 during trading hours on Thursday, hitting $10.20. 62,385 shares of the company were exchanged, compared to its average volume of 331,123. The firm has a fifty day moving average of $9.56 and a 200 day moving average of $10.43. The firm has a market cap of $537.17 million, a PE ratio of -35.16 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.

CION Investment (NYSE:CION - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates 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 positive return on equity of 10.07% and a negative net margin of 6.49%. Analysts expect that CION Investment Corporation will post 1.78 earnings per share for the current year.

CION Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.36 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.44 annualized dividend and a yield of 14.12%. CION Investment's dividend payout ratio (DPR) is presently -496.55%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company dropped 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 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.