A&I Financial Services LLC Sells 3,080 Shares of CION Investment Corporation (NYSE:CION)

A&I Financial Services LLC reduced its holdings in CION Investment Corporation (NYSE:CION) by 9.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,780 shares of the company’s stock after selling 3,080 shares during the quarter. A&I Financial Services LLC’s holdings in CION Investment were worth $319,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Bulldog Investors LLP boosted its position in shares of CION Investment by 62.4% during the fourth quarter. Bulldog Investors LLP now owns 1,682,352 shares of the company’s stock worth $19,190,000 after buying an additional 646,596 shares during the period. Invesco Ltd. acquired a new position in shares of CION Investment during the fourth quarter worth about $11,882,000. Wells Fargo & Company MN boosted its position in shares of CION Investment by 6,958.9% during the fourth quarter. Wells Fargo & Company MN now owns 722,201 shares of the company’s stock worth $8,233,000 after buying an additional 711,970 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in shares of CION Investment by 10.1% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 555,374 shares of the company’s stock worth $5,748,000 after buying an additional 50,963 shares during the period. Finally, CF Capital LLC acquired a new position in shares of CION Investment during the fourth quarter worth about $4,809,000. 32.01% of the stock is owned by institutional investors and hedge funds.

CION Investment Price Performance

CION stock opened at $9.84 on Friday. The business has a 50-day moving average of $9.50 and a 200-day moving average of $10.49. CION Investment Corporation has a fifty-two week low of $8.51 and a fifty-two week high of $12.71. The stock has a market capitalization of $518.21 million, a P/E ratio of -33.91 and a beta of 1.11.

CION Investment (NYSE:CION) last issued its quarterly 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 negative net margin of 6.49% and a positive return on equity of 10.07%. The company had revenue of $56.07 million for the quarter, compared to analyst estimates of $54.15 million. Equities analysts expect that CION Investment Corporation will post 1.78 EPS for the current year.

CION Investment Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.44 annualized dividend and a yield of 14.64%. CION Investment’s dividend payout ratio (DPR) is presently -496.55%.

Wall Street Analysts Forecast Growth

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

CION Investment Company 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.