Catalina Capital Group LLC Acquires 4,306 Shares of CION Investment Co. (NYSE:CION)

Catalina Capital Group LLC boosted its holdings in CION Investment Co. (NYSE:CION) by 18.8% in the third quarter, Holdings Channel reports. The firm owned 27,237 shares of the company’s stock after purchasing an additional 4,306 shares during the quarter. Catalina Capital Group LLC’s holdings in CION Investment were worth $324,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new position in CION Investment in the first quarter valued at $37,000. Focused Wealth Management Inc bought a new position in CION Investment in the third quarter valued at $120,000. First Heartland Consultants Inc. bought a new position in CION Investment in the second quarter valued at $145,000. Fullcircle Wealth LLC bought a new position in CION Investment in the second quarter valued at $156,000. Finally, Marshall Wace LLP bought a new position in CION Investment in the second quarter valued at $164,000. Institutional investors own 32.01% of the company’s stock.

CION Investment Price Performance

Shares of CION stock opened at $11.87 on Thursday. The stock has a market cap of $634.45 million, a P/E ratio of 5.05 and a beta of 1.18. The company has a fifty day moving average price of $11.86 and a two-hundred day moving average price of $12.03. CION Investment Co. has a one year low of $10.14 and a one year high of $12.69.

CION Investment (NYSE:CION) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter. The firm had revenue of $61.36 million during the quarter. CION Investment had a net margin of 48.50% and a return on equity of 12.39%. As a group, equities research analysts anticipate that CION Investment Co. will post 1.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CION has been the subject of a number of analyst reports. Oppenheimer began coverage on shares of CION Investment in a research report on Tuesday, October 8th. They issued a “market perform” rating and a $13.00 target price for the company. Wells Fargo & Company cut their price target on shares of CION Investment from $12.00 to $11.50 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th.

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.