Strategic Blueprint LLC Buys 30,227 Shares of CION Investment Corporation (NYSE:CION)

Strategic Blueprint LLC grew its holdings in shares of CION Investment Corporation (NYSE:CION - Free Report) by 141.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 51,604 shares of the company's stock after purchasing an additional 30,227 shares during the period. Strategic Blueprint LLC owned approximately 0.10% of CION Investment worth $534,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CION. Ameriflex Group Inc. purchased a new position in CION Investment in the 4th quarter worth approximately $55,000. Aquatic Capital Management LLC bought a new stake in CION Investment in the 4th quarter worth approximately $103,000. Golden State Wealth Management LLC grew its position in CION Investment by 18.9% in the 1st quarter. Golden State Wealth Management LLC now owns 10,031 shares of the company's stock worth $104,000 after purchasing an additional 1,597 shares during the period. Coppell Advisory Solutions LLC grew its position in CION Investment by 11.1% in the 4th quarter. Coppell Advisory Solutions LLC now owns 10,966 shares of the company's stock worth $123,000 after purchasing an additional 1,093 shares during the period. Finally, GWN Securities Inc. purchased a new stake in shares of CION Investment in the 4th quarter worth $124,000. 32.01% of the stock is currently owned by hedge funds and other institutional investors.

CION Investment Stock Performance

Shares of CION traded down $0.17 during midday trading on Monday, hitting $9.66. 214,469 shares of the company traded hands, compared to its average volume of 274,331. The firm has a 50 day moving average of $9.52 and a 200-day moving average of $10.55. CION Investment Corporation has a 52 week low of $8.51 and a 52 week high of $12.71. The stock has a market cap of $508.96 million, a price-to-earnings ratio of -33.31 and a beta of 1.11.

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 negative net margin of 6.49% and a positive return on equity of 10.07%. The business had revenue of $56.07 million during the quarter, compared to the consensus estimate of $54.15 million. Sell-side analysts predict that CION Investment Corporation 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 was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 14.91%. The ex-dividend date of this dividend was Monday, June 2nd. CION Investment's payout ratio is currently -496.55%.

Analyst Ratings Changes

Separately, Wells Fargo & Company dropped their price objective on shares of CION Investment from $10.00 to $9.00 and set an "underweight" rating for the company in a 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.