CION Investment Corporation (NYSE:CION) Position Decreased by Pinkerton Retirement Specialists LLC

Pinkerton Retirement Specialists LLC lessened its position in CION Investment Corporation (NYSE:CION - Free Report) by 8.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 478,317 shares of the company's stock after selling 45,148 shares during the period. Pinkerton Retirement Specialists LLC owned approximately 0.90% of CION Investment worth $4,951,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CION. Raymond James Financial Inc. acquired a new stake in shares of CION Investment in the 4th quarter worth about $1,711,000. HighTower Advisors LLC increased its holdings in shares of CION Investment by 16.4% in the 4th quarter. HighTower Advisors LLC now owns 22,956 shares of the company's stock worth $262,000 after acquiring an additional 3,236 shares during the period. GWN Securities Inc. acquired a new stake in shares of CION Investment in the 4th quarter worth about $124,000. Virtu Financial LLC increased its holdings in shares of CION Investment by 124.1% in the 4th quarter. Virtu Financial LLC now owns 23,831 shares of the company's stock worth $272,000 after acquiring an additional 13,199 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its holdings in shares of CION Investment by 15.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 24,621 shares of the company's stock worth $281,000 after acquiring an additional 3,205 shares during the period. Institutional investors and hedge funds own 32.01% of the company's stock.

CION Investment Stock Down 0.1%

CION Investment stock traded down $0.02 during trading hours on Friday, hitting $10.12. 259,053 shares of the company traded hands, compared to its average volume of 276,910. The firm has a market cap of $532.96 million, a P/E ratio of -34.88 and a beta of 1.11. The firm's 50-day simple moving average is $9.52 and its two-hundred day simple moving average is $10.46. 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 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 negative net margin of 6.49% and a positive return on equity of 10.07%. On average, equities research analysts predict that CION Investment Corporation will post 1.78 earnings per share for the current year.

CION Investment Announces Dividend

The business 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 of this dividend was Monday, June 2nd. This represents a $1.44 annualized dividend and a yield of 14.24%. CION Investment's payout ratio is -496.55%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company lowered their target price on shares of CION Investment from $10.00 to $9.00 and set an "underweight" rating on the stock 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.