Pinkerton Wealth LLC Reduces Stake in CION Investment Corporation $CION

Pinkerton Wealth LLC lowered its stake in shares of CION Investment Corporation (NYSE:CION) by 20.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 369,344 shares of the company’s stock after selling 92,381 shares during the period. Pinkerton Wealth LLC’s holdings in CION Investment were worth $3,501,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. AE Wealth Management LLC lifted its stake in CION Investment by 3.3% in the second quarter. AE Wealth Management LLC now owns 33,123 shares of the company’s stock valued at $317,000 after purchasing an additional 1,044 shares during the last quarter. Golden State Wealth Management LLC raised its stake in shares of CION Investment by 7.2% in the third quarter. Golden State Wealth Management LLC now owns 20,219 shares of the company’s stock valued at $192,000 after buying an additional 1,363 shares during the period. Orion Porfolio Solutions LLC lifted its position in shares of CION Investment by 8.1% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 19,269 shares of the company’s stock valued at $183,000 after buying an additional 1,438 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of CION Investment by 21.7% during the 2nd quarter. Geneos Wealth Management Inc. now owns 8,802 shares of the company’s stock worth $84,000 after acquiring an additional 1,571 shares during the period. Finally, CWM LLC grew its stake in shares of CION Investment by 34.7% during the 3rd quarter. CWM LLC now owns 10,343 shares of the company’s stock worth $98,000 after acquiring an additional 2,664 shares during the period. Institutional investors own 32.01% of the company’s stock.

CION Investment Price Performance

CION Investment stock opened at $7.80 on Tuesday. CION Investment Corporation has a one year low of $7.68 and a one year high of $12.55. The business has a fifty day moving average price of $8.98 and a 200-day moving average price of $9.51. The firm has a market capitalization of $406.04 million, a P/E ratio of 15.28 and a beta of 1.09.

CION Investment Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a c) dividend on an annualized basis and a yield of 15.4%. CION Investment’s dividend payout ratio is 235.29%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wall Street Zen upgraded CION Investment from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 17th. Zacks Research lowered shares of CION Investment from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of CION Investment in a research note on Monday, December 29th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $8.50.

CION Investment 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.