EPG Wealth Management LLC Decreases Position in CION Investment Co. (NYSE:CION)

EPG Wealth Management LLC lowered its stake in shares of CION Investment Co. (NYSE:CION) by 15.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,808 shares of the company’s stock after selling 4,567 shares during the quarter. EPG Wealth Management LLC’s holdings in CION Investment were worth $294,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in shares of CION Investment in the 4th quarter valued at approximately $96,000. Aquatic Capital Management LLC acquired a new position in shares of CION Investment during the fourth quarter worth $103,000. Coppell Advisory Solutions LLC increased its holdings in CION Investment by 11.1% in the fourth quarter. Coppell Advisory Solutions LLC now owns 10,966 shares of the company’s stock valued at $123,000 after buying an additional 1,093 shares during the last quarter. GWN Securities Inc. acquired a new stake in CION Investment in the fourth quarter valued at $124,000. Finally, Virtu Financial LLC purchased a new stake in CION Investment during the 3rd quarter worth about $127,000. 32.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company dropped their price objective on CION Investment from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Monday, April 28th.

CION Investment Trading Down 1.2 %

CION stock opened at $9.71 on Thursday. The company’s 50 day moving average is $10.36 and its two-hundred day moving average is $11.20. CION Investment Co. has a twelve month low of $8.51 and a twelve month high of $12.71. The stock has a market cap of $514.89 million, a P/E ratio of 6.61 and a beta of 1.18.

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

CION Investment Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a dividend of $0.36 per share. The ex-dividend date was Friday, March 28th. This represents a $1.44 dividend on an annualized basis and a yield of 14.83%. CION Investment’s dividend payout ratio is presently 228.57%.

About CION Investment

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.