CION Investment Corporation $CION Shares Purchased by Arkadios Wealth Advisors

Arkadios Wealth Advisors boosted its holdings in CION Investment Corporation (NYSE:CION) by 3.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 329,379 shares of the company’s stock after buying an additional 10,396 shares during the period. Arkadios Wealth Advisors’ holdings in CION Investment were worth $3,152,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CION. North Ground Capital boosted its stake in CION Investment by 37.8% in the 1st quarter. North Ground Capital now owns 581,100 shares of the company’s stock worth $5,840,000 after buying an additional 159,299 shares during the last quarter. Berger Financial Group Inc lifted its stake in shares of CION Investment by 27.6% in the 2nd 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. Envestnet Asset Management Inc. lifted its stake in shares of CION Investment by 98.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 199,905 shares of the company’s stock valued at $1,913,000 after purchasing an additional 99,364 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new position in shares of CION Investment in the 1st quarter valued at about $1,007,000. Finally, Private Advisor Group LLC lifted its stake in shares of CION Investment by 10.7% in the 1st 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. 32.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Zacks Research lowered CION Investment from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $8.50 price objective (down from $9.00) on shares of CION Investment in a research note on Tuesday, August 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CION Investment in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised CION Investment from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, CION Investment currently has an average rating of “Reduce” and a consensus target price of $8.50.

CION Investment Stock Performance

CION Investment stock opened at $9.31 on Thursday. The stock’s 50 day moving average price is $9.82 and its 200 day moving average price is $9.76. The firm has a market capitalization of $484.85 million, a PE ratio of -48.99 and a beta of 1.08. CION Investment Corporation has a one year low of $8.51 and a one year high of $12.71.

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

CION Investment Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given 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 15.5%. CION Investment’s payout ratio is -757.89%.

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.