CION Investment (NYSE:CION) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of CION Investment (NYSE:CION) from a buy rating to a strong-buy rating in a research report report published on Saturday morning.

Several other analysts have also recently issued reports on the company. Zacks Research cut CION Investment from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CION Investment in a report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, CION Investment currently has a consensus rating of “Reduce” and an average target price of $8.50.

CION Investment Stock Down 1.9%

NYSE CION opened at $9.47 on Friday. CION Investment has a fifty-two week low of $8.51 and a fifty-two week high of $12.71. The business has a 50 day moving average price of $9.80 and a two-hundred day moving average price of $9.85. The stock has a market cap of $493.29 million, a PE ratio of 18.57 and a beta of 1.07.

CION Investment (NYSE:CION) last posted its earnings results on Thursday, November 6th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.39. CION Investment had a net margin of 10.59% and a return on equity of 12.02%. The business had revenue of $78.71 million for the quarter, compared to analysts’ expectations of $52.41 million. Sell-side analysts anticipate that CION Investment will post 1.78 EPS for the current fiscal year.

CION Investment Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a $0.10 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 12.7%. The ex-dividend date of this dividend is Friday, March 13th. CION Investment’s dividend payout ratio is currently 235.29%.

Hedge Funds Weigh In On CION Investment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its stake in CION Investment by 4.2% during the third quarter. Van ECK Associates Corp now owns 1,359,023 shares of the company’s stock valued at $12,883,000 after buying an additional 54,317 shares in the last quarter. Invesco Ltd. raised its position in CION Investment by 33.6% in the second quarter. Invesco Ltd. now owns 1,343,185 shares of the company’s stock worth $12,854,000 after acquiring an additional 338,121 shares in the last quarter. North Ground Capital lifted its holdings in CION Investment by 100.6% in the 3rd quarter. North Ground Capital now owns 1,002,778 shares of the company’s stock valued at $9,506,000 after acquiring an additional 502,778 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of CION Investment by 4.6% during the 3rd quarter. Private Advisor Group LLC now owns 708,922 shares of the company’s stock valued at $6,721,000 after purchasing an additional 31,100 shares in the last quarter. Finally, UBS Group AG grew its stake in shares of CION Investment by 4.0% in the 3rd quarter. UBS Group AG now owns 574,045 shares of the company’s stock worth $5,442,000 after purchasing an additional 22,140 shares during the last quarter. 32.01% of the stock is owned by institutional investors.

CION Investment Company Profile

CION Investment Corporation is a closed‐end, non‐diversified management investment company organized as a business development company under the Investment Company Act of 1940. Externally managed by CION Investment Management, LLC, the firm specializes in providing flexible capital solutions to U.S. and Canadian middle‐market companies. By combining debt and equity financing, CION seeks to support growth, acquisitions, recapitalizations and other strategic initiatives for its portfolio companies.

The company’s investment strategy centers on senior secured loans, subordinated debt and private equity interests.