Berger Financial Group Inc Purchases 105,478 Shares of CION Investment Corporation $CION

Berger Financial Group Inc lifted its holdings in CION Investment Corporation (NYSE:CION) by 27.6% during the second quarter, HoldingsChannel reports. The firm owned 487,404 shares of the company’s stock after purchasing an additional 105,478 shares during the period. Berger Financial Group Inc’s holdings in CION Investment were worth $4,664,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. LPL Financial LLC grew its holdings in CION Investment by 2.7% in the 1st quarter. LPL Financial LLC now owns 992,946 shares of the company’s stock valued at $10,277,000 after buying an additional 25,706 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of CION Investment by 10.7% in the first quarter. Private Advisor Group LLC now owns 739,356 shares of the company’s stock worth $7,652,000 after acquiring an additional 71,434 shares during the last quarter. North Ground Capital increased its position in CION Investment by 37.8% during the first quarter. North Ground Capital now owns 581,100 shares of the company’s stock worth $5,840,000 after acquiring an additional 159,299 shares during the period. Sigma Planning Corp raised its stake in CION Investment by 3.8% during the 1st quarter. Sigma Planning Corp now owns 338,143 shares of the company’s stock valued at $3,500,000 after purchasing an additional 12,377 shares during the last quarter. Finally, Arkadios Wealth Advisors boosted its holdings in CION Investment by 8.9% in the 1st quarter. Arkadios Wealth Advisors now owns 318,983 shares of the company’s stock valued at $3,301,000 after purchasing an additional 26,019 shares during the period. Institutional investors and hedge funds own 32.01% of the company’s stock.

CION Investment Stock Down 0.2%

Shares of CION opened at $9.52 on Friday. The stock has a market cap of $495.87 million, a price-to-earnings ratio of -50.10 and a beta of 1.08. CION Investment Corporation has a 12 month low of $8.51 and a 12 month high of $12.71. The company has a 50-day moving average price of $10.14 and a two-hundred day moving average price of $9.84.

CION Investment (NYSE:CION) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). CION Investment had a negative net margin of 4.57% and a positive return on equity of 9.63%. The company had revenue of $52.24 million during the quarter, compared to the consensus estimate of $53.34 million. Equities research analysts expect that CION Investment Corporation will post 1.78 EPS for the current fiscal year.

CION Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 15.1%. CION Investment’s dividend payout ratio (DPR) is presently -757.89%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wells Fargo & Company restated an “underweight” rating and set a $8.50 price objective (down previously from $9.00) on shares of CION Investment in a report on Tuesday, August 12th. Wall Street Zen raised CION Investment from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CION Investment in a report on Saturday, September 27th. Finally, Zacks Research raised CION Investment from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $10.75.

CION Investment Company 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.