Cetera Investment Advisers Has $2.96 Million Stock Position in CION Investment Co. (NYSE:CION)

Cetera Investment Advisers reduced its stake in CION Investment Co. (NYSE:CION) by 10.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 259,744 shares of the company’s stock after selling 30,266 shares during the quarter. Cetera Investment Advisers’ holdings in CION Investment were worth $2,961,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CION. Golden State Wealth Management LLC acquired a new position in shares of CION Investment in the fourth quarter worth approximately $96,000. Aquatic Capital Management LLC acquired a new position in shares of CION Investment in the fourth quarter worth approximately $103,000. Coppell Advisory Solutions LLC lifted its stake in shares of CION Investment by 11.1% in the fourth quarter. Coppell Advisory Solutions LLC now owns 10,966 shares of the company’s stock worth $123,000 after acquiring an additional 1,093 shares during the period. GWN Securities Inc. acquired a new position in shares of CION Investment in the fourth quarter worth approximately $124,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of CION Investment in the fourth quarter worth approximately $127,000. 32.01% of the stock is owned by institutional investors and hedge funds.

CION Investment Stock Performance

Shares of CION opened at $9.83 on Friday. CION Investment Co. has a 52-week low of $8.51 and a 52-week high of $12.71. The business’s 50 day moving average price is $9.98 and its two-hundred day moving average price is $11.09. The firm has a market cap of $517.65 million, a PE ratio of 6.68 and a beta of 1.18.

CION Investment (NYSE:CION) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). CION Investment had a net margin of 31.21% and a return on equity of 11.49%. The business had revenue of $56.07 million during the quarter, compared to analyst estimates of $54.15 million. Research analysts predict that CION Investment Co. will post 1.78 EPS for the current fiscal year.

CION Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 14.66%. The ex-dividend date is Monday, June 2nd. CION Investment’s dividend payout ratio (DPR) is presently -496.55%.

Analyst Ratings Changes

Separately, Wells Fargo & Company cut their price objective on 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.