CION Investment Corporation $CION Shares Acquired by Apollon Wealth Management LLC

Apollon Wealth Management LLC increased its position in shares of CION Investment Corporation (NYSE:CION) by 28.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 69,707 shares of the company’s stock after acquiring an additional 15,250 shares during the quarter. Apollon Wealth Management LLC owned approximately 0.13% of CION Investment worth $667,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CION. Kingswood Wealth Advisors LLC boosted its position in CION Investment by 50.0% during the first quarter. Kingswood Wealth Advisors LLC now owns 43,797 shares of the company’s stock worth $459,000 after acquiring an additional 14,599 shares during the last quarter. TT Capital Management LLC boosted its position in CION Investment by 4.4% during the first quarter. TT Capital Management LLC now owns 30,998 shares of the company’s stock worth $321,000 after acquiring an additional 1,300 shares during the last quarter. Consolidated Portfolio Review Corp boosted its position in CION Investment by 14.8% during the first quarter. Consolidated Portfolio Review Corp now owns 42,021 shares of the company’s stock worth $435,000 after acquiring an additional 5,411 shares during the last quarter. Symmetry Partners LLC acquired a new stake in CION Investment during the first quarter worth approximately $192,000. Finally, Golden State Wealth Management LLC boosted its position in CION Investment by 137.9% during the first quarter. Golden State Wealth Management LLC now owns 20,061 shares of the company’s stock worth $208,000 after acquiring an additional 11,627 shares during the last quarter. Institutional investors and hedge funds own 32.01% of the company’s stock.

Analyst Upgrades and Downgrades

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

CION Investment Price Performance

CION Investment stock opened at $9.39 on Thursday. CION Investment Corporation has a 12-month low of $8.51 and a 12-month high of $12.71. The company has a market capitalization of $489.13 million, a price-to-earnings ratio of -49.42 and a beta of 1.08. The firm’s fifty day moving average price is $10.06 and its 200 day moving average price is $9.77.

CION Investment (NYSE:CION) last released 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 firm had revenue of $52.24 million for the quarter, compared to analysts’ expectations of $53.34 million. Analysts forecast that CION Investment Corporation will post 1.78 earnings per share for the current fiscal year.

CION Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.44 annualized dividend and a yield of 15.3%. CION Investment’s payout ratio is -757.89%.

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.