Continuum Advisory LLC Has $518,000 Holdings in CION Investment Co. (NYSE:CION)

Continuum Advisory LLC trimmed its stake in CION Investment Co. (NYSE:CION) by 3.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,434 shares of the company’s stock after selling 1,389 shares during the period. Continuum Advisory LLC’s holdings in CION Investment were worth $518,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its stake in CION Investment by 108.2% during the third quarter. JPMorgan Chase & Co. now owns 19,488 shares of the company’s stock valued at $232,000 after acquiring an additional 10,129 shares during the period. Kingswood Wealth Advisors LLC acquired a new stake in shares of CION Investment during the 4th quarter worth approximately $333,000. Strategic Blueprint LLC grew its holdings in shares of CION Investment by 26.0% during the 4th quarter. Strategic Blueprint LLC now owns 21,377 shares of the company’s stock worth $244,000 after purchasing an additional 4,407 shares in the last quarter. Consolidated Portfolio Review Corp bought a new stake in shares of CION Investment during the fourth quarter valued at approximately $417,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of CION Investment in the fourth quarter valued at $96,000. Institutional investors own 32.01% of the company’s stock.

Wall Street Analyst Weigh In

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

CION Investment Stock Down 4.0%

Shares of CION opened at $9.56 on Thursday. The company has a 50-day moving average price of $9.87 and a two-hundred day moving average price of $11.05. The stock has a market cap of $503.42 million, a price-to-earnings ratio of 6.50 and a beta of 1.18. CION Investment Co. has a 12 month low of $8.51 and a 12 month high of $12.71.

CION Investment (NYSE:CION) last posted its earnings results on Thursday, May 8th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 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 $56.07 million for the quarter, compared to the consensus estimate of $54.15 million. Equities research analysts expect that CION Investment Co. will post 1.78 EPS for the current fiscal year.

CION Investment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 15.07%. The ex-dividend date is Monday, June 2nd. CION Investment’s payout ratio is -496.55%.

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.