CION Investment Corporation $CION Position Decreased by True Freedom Investing LLC

True Freedom Investing LLC cut its holdings in CION Investment Corporation (NYSE:CION) by 69.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,660 shares of the company’s stock after selling 99,462 shares during the period. True Freedom Investing LLC owned approximately 0.09% of CION Investment worth $306,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. State of Wyoming purchased a new position in CION Investment in the 3rd quarter worth about $83,000. International Assets Investment Management LLC increased its holdings in CION Investment by 21.3% in the 3rd quarter. International Assets Investment Management LLC now owns 85,000 shares of the company’s stock valued at $597,000 after acquiring an additional 14,909 shares during the last quarter. TT Capital Management LLC lifted its position in CION Investment by 7.1% during the third quarter. TT Capital Management LLC now owns 27,117 shares of the company’s stock valued at $190,000 after purchasing an additional 1,805 shares during the last quarter. Engineers Gate Manager LP raised its stake in shares of CION Investment by 170.2% in the second quarter. Engineers Gate Manager LP now owns 37,935 shares of the company’s stock valued at $236,000 after acquiring an additional 23,897 shares during the period. Finally, RFG Advisory LLC purchased a new position in CION Investment during the 2nd quarter valued at $64,000. 32.01% of the stock is owned by institutional investors.

CION Investment Trading Down 0.1%

NYSE:CION opened at $6.99 on Monday. CION Investment Corporation has a 12-month low of $5.83 and a 12-month high of $10.40. The stock’s 50 day simple moving average is $7.04 and its 200-day simple moving average is $7.26. The firm has a market cap of $343.71 million, a P/E ratio of 116.43 and a beta of 1.14.

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Weiss Ratings upgraded CION Investment from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Zacks Research cut CION Investment from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, CION Investment presently has a consensus rating of “Reduce” and an average target price of $6.50.

About CION Investment

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.