CION Investment Corporation (NYSE:CION) Shares Sold by Pinkerton Retirement Specialists LLC

Pinkerton Retirement Specialists LLC reduced its holdings in CION Investment Corporation (NYSE:CION - Free Report) by 8.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Bulldog Investors LLP boosted its stake in CION Investment by 62.4% during the fourth quarter. Bulldog Investors LLP now owns 1,682,352 shares of the company's stock worth $19,190,000 after buying an additional 646,596 shares during the period. Invesco Ltd. acquired a new position in shares of CION Investment in the 4th quarter worth approximately $11,882,000. Wells Fargo & Company MN boosted its position in shares of CION Investment by 6,958.9% during the 4th quarter. Wells Fargo & Company MN now owns 722,201 shares of the company's stock worth $8,233,000 after purchasing an additional 711,970 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in CION Investment by 10.1% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 555,374 shares of the company's stock valued at $5,748,000 after purchasing an additional 50,963 shares during the last quarter. Finally, CF Capital LLC purchased a new stake in CION Investment in the fourth quarter valued at approximately $4,809,000. 32.01% of the stock is currently owned by institutional investors and hedge funds.

CION Investment Stock Performance

Shares of CION traded down $0.02 during mid-day trading on Tuesday, hitting $9.91. 158,196 shares of the company's stock were exchanged, compared to its average volume of 276,086. The stock's 50-day moving average is $9.50 and its 200-day moving average is $10.48. CION Investment Corporation has a fifty-two week low of $8.51 and a fifty-two week high of $12.71. The company has a market cap of $521.89 million, a price-to-earnings ratio of 6.44 and a beta of 1.11.

CION Investment (NYSE:CION - Get Free Report) last issued 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 business had revenue of $56.07 million during the quarter, compared to analysts' expectations of $54.15 million. CION Investment had a negative net margin of 6.49% and a positive return on equity of 10.07%. As a group, equities research analysts anticipate that CION Investment Corporation will post 1.78 EPS for the current year.

CION Investment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors 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 14.54%. CION Investment's payout ratio is -496.55%.

Analyst Ratings Changes

Separately, Wells Fargo & Company lowered their price target on 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 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.