Private Advisor Group LLC Purchases 119,783 Shares of CION Investment Corporation $CION

Private Advisor Group LLC boosted its position in shares of CION Investment Corporation (NYSE:CION) by 16.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 860,616 shares of the company’s stock after buying an additional 119,783 shares during the quarter. Private Advisor Group LLC’s holdings in CION Investment were worth $5,887,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CION. BNP Paribas Financial Markets acquired a new position in shares of CION Investment in the 3rd quarter valued at $37,000. Geneos Wealth Management Inc. grew its stake in shares of CION Investment by 21.7% during the second quarter. Geneos Wealth Management Inc. now owns 8,802 shares of the company’s stock worth $84,000 after purchasing an additional 1,571 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in CION Investment by 183.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 8,872 shares of the company’s stock valued at $86,000 after purchasing an additional 5,739 shares during the last quarter. Diversify Advisory Services LLC acquired a new position in CION Investment in the fourth quarter valued at about $95,000. Finally, Aquatic Capital Management LLC lifted its stake in CION Investment by 165.0% in the third quarter. Aquatic Capital Management LLC now owns 10,354 shares of the company’s stock valued at $98,000 after buying an additional 6,447 shares during the period. Institutional investors own 32.01% of the company’s stock.

CION Investment Stock Up 1.8%

CION Investment stock traded up $0.11 during mid-day trading on Tuesday, hitting $6.36. 181,446 shares of the company’s stock were exchanged, compared to its average volume of 574,272. The company’s 50 day simple moving average is $6.81 and its 200-day simple moving average is $7.82. The firm has a market capitalization of $316.76 million, a P/E ratio of -159.01 and a beta of 1.10. CION Investment Corporation has a fifty-two week low of $5.97 and a fifty-two week high of $10.93.

CION Investment (NYSE:CION) last posted its earnings results on Wednesday, May 6th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). CION Investment had a negative net margin of 0.41% and a positive return on equity of 11.96%. The business had revenue of $49.54 million during the quarter, compared to analyst estimates of $49.12 million. Research analysts expect that CION Investment Corporation will post 1.05 EPS for the current year.

CION Investment Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be issued a dividend of $0.10 per share. This represents a c) annualized dividend and a dividend yield of 18.9%. The ex-dividend date is Friday, September 11th. CION Investment’s payout ratio is -3,000.00%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CION shares. Weiss Ratings lowered CION Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday. Wall Street Zen cut CION Investment from a “strong-buy” rating to a “hold” rating in a research note on Saturday, March 14th. Zacks Research upgraded shares of CION Investment from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. Finally, Wells Fargo & Company reduced their price objective on shares of CION Investment from $7.00 to $6.50 and set an “underweight” rating on the stock in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.50.

About CION Investment

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.