CION Investment (NYSE:CION) Sets New 12-Month Low – Here’s Why

Shares of CION Investment Co. (NYSE:CION) reached a new 52-week low during trading on Friday . The company traded as low as $10.39 and last traded at $10.41, with a volume of 47216 shares traded. The stock had previously closed at $10.48.

Analyst Ratings Changes

Separately, Wells Fargo & Company reiterated an “underweight” rating and issued a $10.00 price objective (down from $11.00) on shares of CION Investment in a report on Monday, March 17th.

CION Investment Trading Down 0.3 %

The firm has a market capitalization of $553.87 million, a P/E ratio of 7.10 and a beta of 1.11. The business’s fifty day moving average is $11.73 and its 200 day moving average is $11.67.

CION Investment (NYSE:CION) last posted its quarterly earnings data 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). CION Investment had a return on equity of 11.49% and a net margin of 31.21%. The company had revenue of $87.91 million for the quarter, compared to analyst estimates of $54.11 million. As a group, sell-side analysts predict that CION Investment Co. will post 1.78 earnings per share for the current fiscal year.

CION Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.36 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.44 annualized dividend and a dividend yield of 13.79%. CION Investment’s dividend payout ratio (DPR) is presently 228.57%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. boosted its position in CION Investment by 14.1% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 504,411 shares of the company’s stock worth $5,750,000 after acquiring an additional 62,365 shares during the period. Jane Street Group LLC purchased a new position in CION Investment during the third quarter valued at approximately $161,000. A&I Financial Services LLC acquired a new position in CION Investment in the 4th quarter valued at approximately $386,000. Whipplewood Advisors LLC purchased a new stake in CION Investment in the 4th quarter worth approximately $466,000. Finally, Arete Wealth Advisors LLC lifted its position in CION Investment by 67.6% in the 3rd quarter. Arete Wealth Advisors LLC now owns 28,275 shares of the company’s stock worth $337,000 after buying an additional 11,408 shares in the last quarter. 32.01% of the stock is owned by institutional investors and hedge funds.

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.