D. E. Shaw & Co. Inc. Acquires 62,594 Shares of CION Investment Co. (NYSE:CION)

D. E. Shaw & Co. Inc. raised its stake in shares of CION Investment Co. (NYSE:CION - Free Report) by 481.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 75,582 shares of the company's stock after purchasing an additional 62,594 shares during the period. D. E. Shaw & Co. Inc. owned 0.14% of CION Investment worth $862,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bulldog Investors LLP raised its stake in CION Investment by 62.4% during the 4th quarter. Bulldog Investors LLP now owns 1,682,352 shares of the company's stock worth $19,190,000 after acquiring an additional 646,596 shares during the period. CF Capital LLC bought a new stake in shares of CION Investment during the 4th quarter valued at $4,809,000. Jane Street Group LLC lifted its stake in shares of CION Investment by 57.5% during the 4th quarter. Jane Street Group LLC now owns 21,305 shares of the company's stock valued at $243,000 after buying an additional 7,778 shares in the last quarter. Talon Private Wealth LLC purchased a new position in shares of CION Investment during the 4th quarter valued at $174,000. Finally, Aquatic Capital Management LLC bought a new position in CION Investment in the 4th quarter worth $103,000. Hedge funds and other institutional investors own 32.01% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company lowered their price objective 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 Stock Up 0.8%

CION stock traded up $0.08 during midday trading on Thursday, hitting $9.70. The company's stock had a trading volume of 231,308 shares, compared to its average volume of 259,104. CION Investment Co. has a 12 month low of $8.51 and a 12 month high of $12.71. The company has a 50 day moving average of $9.72 and a two-hundred day moving average of $10.97. The firm has a market capitalization of $510.80 million, a price-to-earnings ratio of 6.60 and a beta of 1.18.

CION Investment (NYSE:CION - Get Free Report) last issued its 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 the consensus estimate of $54.15 million. CION Investment had a return on equity of 11.49% and a net margin of 31.21%. On average, analysts anticipate that CION Investment Co. will post 1.78 earnings per share for the current fiscal year.

CION Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 14.85%. CION Investment's payout ratio is -496.55%.

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.