CION Investment Co. (NYSE:CION) Shares Sold by BlueChip Wealth Advisors LLC

BlueChip Wealth Advisors LLC lessened its stake in shares of CION Investment Co. (NYSE:CION) by 30.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,616 shares of the company’s stock after selling 14,857 shares during the period. BlueChip Wealth Advisors LLC owned 0.06% of CION Investment worth $395,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new stake in CION Investment during the fourth quarter worth $96,000. Quantbot Technologies LP purchased a new position in shares of CION Investment during the 3rd quarter worth $104,000. Legacy Investment Solutions LLC acquired a new stake in shares of CION Investment during the 3rd quarter worth about $124,000. GWN Securities Inc. purchased a new stake in CION Investment in the 4th quarter valued at about $124,000. Finally, Virtu Financial LLC purchased a new stake in CION Investment in the 3rd quarter valued at about $127,000. Institutional investors and hedge funds own 32.01% of the company’s stock.

Wall Street Analyst Weigh In

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

CION Investment Stock Down 3.6 %

Shares of NYSE CION opened at $10.45 on Friday. CION Investment Co. has a 52-week low of $10.32 and a 52-week high of $12.71. The business’s 50 day moving average is $11.71 and its two-hundred day moving average is $11.66. The firm has a market cap of $553.87 million, a price-to-earnings ratio of 7.11 and a beta of 1.11.

CION Investment (NYSE:CION) last posted its earnings results 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). The firm had revenue of $87.91 million for the quarter, compared to analyst estimates of $54.11 million. CION Investment had a return on equity of 11.49% and a net margin of 31.21%. Analysts anticipate that CION Investment Co. will post 1.78 EPS for the current fiscal 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 issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.44 dividend on an annualized basis and a yield of 13.79%. CION Investment’s dividend payout ratio (DPR) is presently 228.57%.

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.