True Freedom Investing LLC Acquires Shares of 143,122 CION Investment Corporation $CION

True Freedom Investing LLC acquired a new stake in CION Investment Corporation (NYSE:CION) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 143,122 shares of the company’s stock, valued at approximately $979,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. BNP Paribas Financial Markets purchased a new position in shares of CION Investment during the third quarter worth $37,000. OneDigital Investment Advisors LLC purchased a new stake in CION Investment in the second quarter valued at $73,000. Geneos Wealth Management Inc. boosted its holdings in CION Investment by 21.7% in the second quarter. Geneos Wealth Management Inc. now owns 8,802 shares of the company’s stock valued at $84,000 after purchasing an additional 1,571 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in CION Investment by 183.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 8,872 shares of the company’s stock worth $86,000 after purchasing an additional 5,739 shares during the period. Finally, Empowered Funds LLC acquired a new stake in CION Investment during the 1st quarter worth about $87,000. Institutional investors and hedge funds own 32.01% of the company’s stock.

Analysts Set New Price Targets

CION has been the topic of a number of recent research reports. Zacks Research downgraded CION Investment from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Wells Fargo & Company reduced their price target on CION Investment from $7.00 to $6.50 and set an “underweight” rating for the company in a research report on Monday, May 11th. Finally, Weiss Ratings raised CION Investment from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $6.50.

CION Investment Trading Up 0.4%

NYSE:CION opened at $7.33 on Friday. The stock has a 50 day moving average of $6.56 and a two-hundred day moving average of $7.14. CION Investment Corporation has a 12 month low of $5.83 and a 12 month high of $10.93. The firm has a market cap of $360.64 million, a P/E ratio of 122.17 and a beta of 1.11.

CION Investment (NYSE:CION) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The firm had revenue of $49.79 million for the quarter, compared to analyst estimates of $49.78 million. CION Investment had a net margin of 1.17% and a return on equity of 11.95%. On average, research analysts forecast that CION Investment Corporation will post 1.08 earnings per share for the current year.

CION Investment Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, December 28th. Shareholders of record on Friday, December 11th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, December 11th. This represents a c) annualized dividend and a yield of 16.4%. CION Investment’s dividend payout ratio (DPR) is 2,000.00%.

CION Investment Profile

CION Investment Corporation is a closed‐end, non‐diversified management investment company organized as a business development company under the Investment Company Act of 1940. Externally managed by CION Investment Management, LLC, the firm specializes in providing flexible capital solutions to U.S. and Canadian middle‐market companies. By combining debt and equity financing, CION seeks to support growth, acquisitions, recapitalizations and other strategic initiatives for its portfolio companies.

The company’s investment strategy centers on senior secured loans, subordinated debt and private equity interests.