Creekmur Asset Management LLC Cuts Stock Position in CION Investment Co. (NYSE:CION)

Creekmur Asset Management LLC trimmed its position in CION Investment Co. (NYSE:CION) by 26.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,618 shares of the company’s stock after selling 5,299 shares during the period. Creekmur Asset Management LLC’s holdings in CION Investment were worth $167,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new position in shares of CION Investment during the fourth quarter worth about $96,000. Quantbot Technologies LP acquired a new position in CION Investment during the 3rd quarter worth approximately $104,000. Legacy Investment Solutions LLC purchased a new position in shares of CION Investment during the 3rd quarter worth approximately $124,000. GWN Securities Inc. purchased a new stake in shares of CION Investment in the fourth quarter valued at approximately $124,000. Finally, Virtu Financial LLC purchased a new position in CION Investment in the third quarter worth $127,000. 32.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wells Fargo & Company restated an “underweight” rating and set a $10.00 target price (down from $11.00) on shares of CION Investment in a research report on Monday, March 17th.

CION Investment Price Performance

Shares of NYSE CION opened at $10.49 on Wednesday. The company has a 50-day simple moving average of $11.67 and a 200-day simple moving average of $11.65. The company has a market cap of $556.36 million, a PE ratio of 7.14 and a beta of 1.11. CION Investment Co. has a 12 month low of $10.14 and a 12 month high of $12.71.

CION Investment (NYSE:CION) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). CION Investment had a return on equity of 11.49% and a net margin of 31.21%. The company had revenue of $87.91 million for the quarter, compared to analysts’ expectations of $54.11 million. On average, analysts anticipate that CION Investment Co. will post 1.78 EPS for the current year.

CION Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.44 annualized dividend and a dividend yield of 13.72%. CION Investment’s dividend payout ratio is presently 228.57%.

CION Investment Profile

CION Investment Corporation is a business development company. It specializes in investments in senior secured loans, including unitranche loans, First Lien, second lien loans, long-term subordinated loans, and mezzanine loans; equity interests such as warrants or options; and corporate bonds; and other debt securities in middle-market companies.