Virtu Financial LLC Raises Holdings in CION Investment Co. (NYSE:CION)

Virtu Financial LLC raised its stake in CION Investment Co. (NYSE:CION) by 124.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 23,831 shares of the company’s stock after purchasing an additional 13,199 shares during the quarter. Virtu Financial LLC’s holdings in CION Investment were worth $272,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Golden State Wealth Management LLC bought a new position in CION Investment during the 4th quarter valued at approximately $96,000. Quantbot Technologies LP bought a new stake in CION Investment in the third quarter valued at $104,000. GWN Securities Inc. bought a new stake in CION Investment in the fourth quarter valued at $124,000. Legacy Investment Solutions LLC purchased a new position in CION Investment during the 3rd quarter valued at $124,000. Finally, Entropy Technologies LP bought a new position in CION Investment in the 4th quarter worth $138,000. Hedge funds and other institutional investors own 32.01% of the company’s stock.

CION Investment Stock Up 0.2 %

NYSE CION opened at $10.86 on Friday. The stock’s 50 day moving average is $11.73 and its 200 day moving average is $11.67. The firm has a market capitalization of $575.61 million, a PE ratio of 7.38 and a beta of 1.11. CION Investment Co. has a twelve month low of $10.52 and a twelve month high of $12.71.

CION Investment (NYSE:CION) last announced its earnings results on Thursday, March 13th. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The business had revenue of $87.91 million for the quarter, compared to the consensus estimate of $54.11 million. CION Investment had a net margin of 31.21% and a return on equity of 11.49%. On average, research analysts anticipate that CION Investment Co. will post 1.78 earnings per share for the current year.

CION Investment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 13.27%. The ex-dividend date is Friday, March 28th. CION Investment’s dividend payout ratio is 228.57%.

Wall Street Analyst Weigh In

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

CION Investment 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.