Catalina Capital Group LLC Sells 17,040 Shares of CION Investment Co. (NYSE:CION)

Catalina Capital Group LLC lessened its position in shares of CION Investment Co. (NYSE:CION) by 62.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 10,197 shares of the company’s stock after selling 17,040 shares during the period. Catalina Capital Group LLC’s holdings in CION Investment were worth $116,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CION. Hennion & Walsh Asset Management Inc. grew its holdings in shares of CION Investment by 14.1% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 504,411 shares of the company’s stock worth $5,750,000 after purchasing an additional 62,365 shares in the last quarter. International Assets Investment Management LLC grew its stake in CION Investment by 1,090.0% in the 3rd quarter. International Assets Investment Management LLC now owns 871,080 shares of the company’s stock worth $103,660,000 after buying an additional 797,880 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of CION Investment by 5.7% in the 3rd quarter. Van ECK Associates Corp now owns 1,307,974 shares of the company’s stock worth $15,617,000 after buying an additional 70,608 shares during the last quarter. Jane Street Group LLC bought a new position in shares of CION Investment in the 3rd quarter worth $161,000. Finally, Strong Tower Advisory Services lifted its holdings in shares of CION Investment by 1,469.2% during the 3rd quarter. Strong Tower Advisory Services now owns 196,199 shares of the company’s stock worth $2,335,000 after acquiring an additional 183,696 shares during the last quarter. 32.01% of the stock is owned by institutional investors.

CION Investment Stock Down 1.1 %

Shares of NYSE:CION opened at $11.57 on Wednesday. The stock has a market cap of $616.41 million, a PE ratio of 7.87 and a beta of 1.13. The company’s fifty day moving average is $11.48 and its 200 day moving average is $11.74. CION Investment Co. has a 52 week low of $10.52 and a 52 week high of $12.69.

CION Investment (NYSE:CION) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.38 by $0.02. The firm had revenue of $59.63 million for the quarter, compared to the consensus estimate of $57.75 million. CION Investment had a return on equity of 11.49% and a net margin of 31.21%. During the same quarter in the previous year, the business earned $0.55 earnings per share. Sell-side analysts anticipate that CION Investment Co. will post 1.78 EPS for the current year.

CION Investment Announces Dividend

The business also recently disclosed an annual dividend, which was paid on Monday, January 27th. Stockholders of record on Monday, December 30th were paid a dividend of $0.05 per share. This represents a dividend yield of 0.43%. The ex-dividend date was Monday, December 30th. CION Investment’s dividend payout ratio (DPR) is presently 97.96%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CION shares. Wells Fargo & Company lowered their price target on CION Investment from $12.00 to $11.50 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Oppenheimer initiated coverage on 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.

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.