Pinkerton Retirement Specialists LLC Cuts Stake in CION Investment Co. (NYSE:CION)

Pinkerton Retirement Specialists LLC decreased its position in shares of CION Investment Co. (NYSE:CION - Free Report) by 20.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 523,465 shares of the company's stock after selling 135,708 shares during the period. CION Investment accounts for 0.9% of Pinkerton Retirement Specialists LLC's holdings, making the stock its 23rd biggest position. Pinkerton Retirement Specialists LLC owned 0.98% of CION Investment worth $5,967,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Founders Financial Alliance LLC raised its holdings in shares of CION Investment by 5.3% in the fourth quarter. Founders Financial Alliance LLC now owns 21,769 shares of the company's stock worth $248,000 after buying an additional 1,086 shares during the last quarter. Concurrent Investment Advisors LLC grew its position in CION Investment by 2.6% during the fourth quarter. Concurrent Investment Advisors LLC now owns 42,822 shares of the company's stock valued at $488,000 after buying an additional 1,093 shares during the period. Coppell Advisory Solutions LLC grew its position in CION Investment by 11.1% during the fourth quarter. Coppell Advisory Solutions LLC now owns 10,966 shares of the company's stock valued at $123,000 after buying an additional 1,093 shares during the period. Endowment Wealth Management Inc. grew its position in shares of CION Investment by 2.6% in the fourth quarter. Endowment Wealth Management Inc. now owns 59,852 shares of the company's stock valued at $682,000 after purchasing an additional 1,522 shares during the period. Finally, Townsquare Capital LLC grew its position in shares of CION Investment by 7.8% in the fourth quarter. Townsquare Capital LLC now owns 33,883 shares of the company's stock valued at $386,000 after purchasing an additional 2,445 shares during the period. Hedge funds and other institutional investors own 32.01% of the company's stock.

CION Investment Trading Up 0.7%

CION stock traded up $0.07 during trading on Tuesday, reaching $9.65. 96,298 shares of the stock were exchanged, compared to its average volume of 257,774. The business has a 50 day moving average price of $9.79 and a 200-day moving average price of $11.00. CION Investment Co. has a 1 year low of $8.51 and a 1 year high of $12.71. The firm has a market capitalization of $508.38 million, a price-to-earnings ratio of 6.55 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 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.01). The firm had revenue of $56.07 million for the quarter, compared to analysts' expectations of $54.15 million. CION Investment had a return on equity of 11.49% and a net margin of 31.21%. On average, research analysts anticipate that CION Investment Co. will post 1.78 EPS for the current year.

CION Investment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 14.92%. The ex-dividend date of this dividend is Monday, June 2nd. CION Investment's payout ratio is currently -496.55%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company lowered their price target on shares of CION Investment from $10.00 to $9.00 and set an "underweight" rating on the stock in a research report on Monday, April 28th.

About CION Investment

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.