International Assets Investment Management LLC Has $622,000 Stake in CION Investment Corporation $CION

International Assets Investment Management LLC trimmed its holdings in CION Investment Corporation (NYSE:CION) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,996 shares of the company’s stock after selling 1,977 shares during the period. International Assets Investment Management LLC owned 0.12% of CION Investment worth $622,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CION. North Ground Capital raised its position in shares of CION Investment by 37.8% in the first quarter. North Ground Capital now owns 581,100 shares of the company’s stock valued at $5,840,000 after buying an additional 159,299 shares in the last quarter. Berger Financial Group Inc raised its position in CION Investment by 27.6% during the second quarter. Berger Financial Group Inc now owns 487,404 shares of the company’s stock valued at $4,664,000 after purchasing an additional 105,478 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new position in CION Investment during the first quarter valued at approximately $1,007,000. Private Advisor Group LLC raised its position in CION Investment by 10.7% during the first quarter. Private Advisor Group LLC now owns 739,356 shares of the company’s stock valued at $7,652,000 after purchasing an additional 71,434 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new position in CION Investment during the first quarter valued at approximately $518,000. 32.01% of the stock is currently owned by institutional investors and hedge funds.

CION Investment Stock Performance

Shares of NYSE:CION opened at $9.47 on Wednesday. The company has a fifty day moving average of $9.96 and a 200-day moving average of $9.74. The company has a market capitalization of $493.03 million, a PE ratio of -49.81 and a beta of 1.08. CION Investment Corporation has a 52-week low of $8.51 and a 52-week high of $12.71.

CION Investment (NYSE:CION) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). CION Investment had a positive return on equity of 9.63% and a negative net margin of 4.57%.The company had revenue of $52.24 million for the quarter, compared to analyst estimates of $53.34 million. On average, equities analysts forecast that CION Investment Corporation will post 1.78 EPS for the current fiscal year.

CION Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.44 annualized dividend and a dividend yield of 15.2%. CION Investment’s payout ratio is currently -757.89%.

Wall Street Analysts Forecast Growth

CION has been the subject of several research analyst reports. Zacks Research downgraded shares of CION Investment from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Wells Fargo & Company restated an “underweight” rating and set a $8.50 price objective (down from $9.00) on shares of CION Investment in a research report on Tuesday, August 12th. Weiss Ratings restated a “hold (c-)” rating on shares of CION Investment in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of CION Investment from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $8.50.

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.