Symmetry Partners LLC Buys New Shares in CION Investment Corporation (NYSE:CION)

Symmetry Partners LLC purchased a new position in shares of CION Investment Corporation (NYSE:CION) in the first quarter, HoldingsChannel reports. The institutional investor purchased 18,559 shares of the company’s stock, valued at approximately $192,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CION. Ameriflex Group Inc. acquired a new stake in shares of CION Investment in the fourth quarter valued at approximately $55,000. Aquatic Capital Management LLC bought a new stake in CION Investment in the 4th quarter valued at $103,000. GWN Securities Inc. bought a new stake in CION Investment in the 4th quarter valued at $124,000. Coppell Advisory Solutions LLC increased its stake in CION Investment by 11.1% in the 4th 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 last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in CION Investment in the 4th quarter valued at $127,000. Institutional investors own 32.01% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company lowered their price objective on shares of 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 Stock Up 0.2%

NYSE CION opened at $9.27 on Tuesday. The company has a market capitalization of $488.44 million, a P/E ratio of -31.97 and a beta of 1.12. CION Investment Corporation has a 12-month low of $8.51 and a 12-month high of $12.71. The firm has a 50-day moving average price of $9.52 and a two-hundred day moving average price of $10.68.

CION Investment (NYSE:CION) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.36 earnings per share 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 the consensus estimate of $54.15 million. CION Investment had a positive return on equity of 10.07% and a negative net margin of 6.49%. Equities analysts expect that CION Investment Corporation will post 1.78 EPS for the current year.

CION Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 15.53%. The ex-dividend date of this dividend was Monday, June 2nd. CION Investment’s dividend payout ratio is -496.55%.

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.