GWN Securities Inc. Takes Position in CION Investment Co. (NYSE:CION)

GWN Securities Inc. acquired a new position in CION Investment Co. (NYSE:CION) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,819 shares of the company’s stock, valued at approximately $124,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CION. Wealthfront Advisers LLC acquired a new stake in CION Investment in the fourth quarter worth about $6,899,000. Raymond James Financial Inc. acquired a new stake in CION Investment in the fourth quarter worth about $1,711,000. Hennion & Walsh Asset Management Inc. increased its position in CION Investment by 14.1% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 504,411 shares of the company’s stock worth $5,750,000 after purchasing an additional 62,365 shares during the period. Franklin Resources Inc. increased its position in CION Investment by 13.6% in the third quarter. Franklin Resources Inc. now owns 358,956 shares of the company’s stock worth $4,261,000 after purchasing an additional 43,076 shares during the period. Finally, Whipplewood Advisors LLC acquired a new stake in CION Investment in the fourth quarter worth about $466,000. 32.01% of the stock is currently owned by institutional investors and hedge funds.

CION Investment Trading Down 1.5 %

CION Investment stock opened at $10.82 on Wednesday. The firm has a market capitalization of $576.29 million, a P/E ratio of 7.36 and a beta of 1.11. CION Investment Co. has a 1 year low of $10.52 and a 1 year high of $12.71. The business has a 50-day moving average of $11.77 and a 200-day moving average of $11.72.

CION Investment (NYSE:CION) last posted its earnings results on Thursday, March 13th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $87.91 million for the quarter, compared to analyst estimates of $54.11 million. CION Investment had a return on equity of 11.49% and a net margin of 31.21%. Research analysts anticipate that CION Investment Co. will post 1.78 EPS for the current fiscal year.

CION Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 13.31%. The ex-dividend date of this dividend is Friday, March 28th. CION Investment’s dividend payout ratio (DPR) is presently 228.57%.

Analyst Ratings Changes

Separately, Wells Fargo & Company restated an “underweight” rating and set a $10.00 target price (down from $11.00) on shares of CION Investment in a research report on Monday.

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.