CION Investment Corporation $CION Stock: Pinkerton Wealth LLC Trims Position

Pinkerton Wealth LLC cut its stake in CION Investment Corporation (NYSE:CION) by 68.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 51,662 shares of the company’s stock after selling 111,373 shares during the period. Pinkerton Wealth LLC’s holdings in CION Investment were worth $363,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. RFG Advisory LLC purchased a new stake in shares of CION Investment during the 2nd quarter worth about $64,000. Empowered Funds LLC purchased a new position in shares of CION Investment in the 2nd quarter valued at $67,000. OneDigital Investment Advisors LLC purchased a new position in shares of CION Investment in the 2nd quarter valued at $73,000. State of Wyoming acquired a new position in shares of CION Investment during the 3rd quarter valued at $83,000. Finally, Global Retirement Partners LLC acquired a new position in shares of CION Investment during the 2nd quarter valued at $87,000. Hedge funds and other institutional investors own 32.01% of the company’s stock.

Analyst Upgrades and Downgrades

CION has been the subject of a number of research reports. Zacks Research cut shares of CION Investment from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Weiss Ratings raised CION Investment from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $6.50.

CION Investment Trading Down 0.1%

Shares of CION opened at $6.99 on Monday. CION Investment Corporation has a 52 week low of $5.83 and a 52 week high of $10.40. The firm has a market cap of $343.71 million, a price-to-earnings ratio of 116.43 and a beta of 1.14. The stock has a 50 day moving average of $7.04 and a 200-day moving average of $7.26.

CION Investment (NYSE:CION) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.03. CION Investment had a return on equity of 11.95% and a net margin of 1.17%. The business had revenue of $49.79 million for the quarter, compared to analyst estimates of $49.78 million. On average, sell-side analysts predict that CION Investment Corporation will post 1.08 earnings per share for the current fiscal year.

CION Investment Company Profile

CION Investment Corporation (NYSE:CION) is a closed-end, externally managed business development company (BDC) that provides financing to privately owned, middle-market companies. The company primarily seeks to generate current income and, to a lesser extent, capital appreciation by investing in the debt and equity securities of eligible businesses.

CION’s investment portfolio generally includes senior secured loans, subordinated debt, unitranche investments and, in select cases, equity or equity-related securities.