CION Investment Corporation $CION Shares Sold by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC trimmed its position in CION Investment Corporation (NYSE:CION) by 66.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,599 shares of the company’s stock after selling 29,198 shares during the period. Kingswood Wealth Advisors LLC’s holdings in CION Investment were worth $140,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Belpointe Asset Management LLC lifted its position in CION Investment by 10.3% in the second quarter. Belpointe Asset Management LLC now owns 15,946 shares of the company’s stock worth $153,000 after purchasing an additional 1,490 shares during the period. Wealthcare Advisory Partners LLC lifted its position in CION Investment by 40.8% in the second quarter. Wealthcare Advisory Partners LLC now owns 28,979 shares of the company’s stock worth $277,000 after purchasing an additional 8,402 shares during the period. Berger Financial Group Inc increased its holdings in shares of CION Investment by 27.6% in the second quarter. Berger Financial Group Inc now owns 487,404 shares of the company’s stock valued at $4,664,000 after buying an additional 105,478 shares in the last quarter. Symmetry Partners LLC increased its holdings in shares of CION Investment by 117.6% in the second quarter. Symmetry Partners LLC now owns 40,376 shares of the company’s stock valued at $386,000 after buying an additional 21,817 shares in the last quarter. Finally, Beacon Capital Management LLC increased its holdings in shares of CION Investment by 7.7% in the second quarter. Beacon Capital Management LLC now owns 33,404 shares of the company’s stock valued at $320,000 after buying an additional 2,374 shares in the last quarter. 32.01% of the stock is currently owned by institutional investors and hedge funds.

CION Investment Stock Down 1.1%

Shares of NYSE:CION opened at $9.13 on Monday. The company’s fifty day moving average is $10.09 and its two-hundred day moving average is $9.78. CION Investment Corporation has a 12-month low of $8.51 and a 12-month high of $12.71. The company has a market cap of $475.58 million, a P/E ratio of -48.05 and a beta of 1.08.

CION Investment (NYSE:CION) last announced its 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 negative net margin of 4.57% and a positive return on equity of 9.63%. The firm had revenue of $52.24 million for the quarter, compared to analyst estimates of $53.34 million. Equities research analysts anticipate that CION Investment Corporation will post 1.78 earnings per share for the current year.

CION Investment Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 15.8%. The ex-dividend date of this dividend was Tuesday, September 2nd. CION Investment’s payout ratio is -757.89%.

Wall Street Analyst Weigh In

Several research firms have issued reports on CION. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $8.50 price target (down previously from $9.00) on shares of CION Investment in a report on Tuesday, August 12th. Zacks Research raised CION Investment from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 21st. Wall Street Zen raised CION Investment from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CION Investment in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, CION Investment currently has a consensus rating of “Hold” and an average price target of $8.50.

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.