Redhawk Wealth Advisors Inc. Makes New Investment in CION Investment Co. (NYSE:CION)

Redhawk Wealth Advisors Inc. acquired a new position in shares of CION Investment Co. (NYSE:CION - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 65,718 shares of the company's stock, valued at approximately $680,000. Redhawk Wealth Advisors Inc. owned 0.12% of CION Investment at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. SeaCrest Wealth Management LLC acquired a new position in CION Investment during the first quarter valued at approximately $264,000. Hennion & Walsh Asset Management Inc. boosted its position in CION Investment by 10.1% during the first 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. Merit Financial Group LLC acquired a new position in CION Investment during the first quarter valued at approximately $205,000. BridgePort Financial Solutions LLC acquired a new position in CION Investment during the fourth quarter valued at approximately $191,000. Finally, Ameriflex Group Inc. acquired a new position in CION Investment during the fourth quarter valued at approximately $55,000. 32.01% of the stock is owned by institutional investors and hedge funds.

CION Investment Price Performance

CION Investment stock traded down $0.05 during mid-day trading on Thursday, hitting $9.09. 189,157 shares of the company's stock traded hands, compared to its average volume of 260,538. CION Investment Co. has a fifty-two week low of $8.51 and a fifty-two week high of $12.71. The stock has a market cap of $478.92 million, a price-to-earnings ratio of 6.18 and a beta of 1.12. The firm has a 50 day simple moving average of $9.49 and a two-hundred day simple moving average of $10.83.

CION Investment (NYSE:CION - Get Free Report) last announced its quarterly 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). CION Investment had a net margin of 31.21% and a return on equity of 11.49%. The company had revenue of $56.07 million during the quarter, compared to analyst estimates of $54.15 million. On average, research 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. Shareholders of record on Monday, June 2nd will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 15.84%. The ex-dividend date of this dividend is Monday, June 2nd. CION Investment's dividend payout ratio is -496.55%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company reduced 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 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.