LSV Asset Management Has $1.79 Million Stock Position in CION Investment Corporation $CION

LSV Asset Management lifted its holdings in CION Investment Corporation (NYSE:CION) by 18.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 186,600 shares of the company’s stock after acquiring an additional 28,400 shares during the period. LSV Asset Management owned approximately 0.35% of CION Investment worth $1,786,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Gravity Companies Inc. acquired a new position in shares of CION Investment in the 2nd quarter valued at approximately $934,000. HighTower Advisors LLC increased its stake in CION Investment by 72.1% in the first quarter. HighTower Advisors LLC now owns 39,500 shares of the company’s stock valued at $409,000 after acquiring an additional 16,544 shares during the last quarter. Avantax Advisory Services Inc. acquired a new position in CION Investment during the first quarter valued at approximately $271,000. Berger Financial Group Inc lifted its stake in CION Investment by 27.6% during the second quarter. Berger Financial Group Inc now owns 487,404 shares of the company’s stock worth $4,664,000 after purchasing an additional 105,478 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of 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 purchasing an additional 25,706 shares in the last quarter. Institutional investors and hedge funds own 32.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CION. Weiss Ratings reissued a “hold (c)” rating on shares of CION Investment in a report on Thursday. Wall Street Zen raised CION Investment from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Wells Fargo & Company reissued an “underweight” rating and issued a $8.50 target price (down previously from $9.00) on shares of CION Investment in a report on Tuesday, August 12th. Finally, Zacks Research raised shares of CION Investment from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $8.50.

CION Investment Trading Up 0.5%

CION Investment stock opened at $9.82 on Friday. The stock has a 50-day moving average price of $9.56 and a two-hundred day moving average price of $9.76. CION Investment Corporation has a 12 month low of $8.51 and a 12 month high of $12.71. The company has a market capitalization of $511.29 million, a PE ratio of -51.66 and a beta of 1.08.

CION Investment (NYSE:CION) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.39. The company had revenue of $78.71 million during the quarter, compared to the consensus estimate of $52.41 million. CION Investment had a positive return on equity of 9.63% and a negative net margin of 4.57%. As a group, analysts predict that CION Investment Corporation will post 1.78 earnings per share for the current fiscal year.

CION Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 14.7%. The ex-dividend date is Monday, December 1st. CION Investment’s dividend payout ratio is 282.35%.

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.