Arkadios Wealth Advisors Sells 14,513 Shares of CION Investment Co. (NYSE:CION)

Arkadios Wealth Advisors decreased its holdings in CION Investment Co. (NYSE:CION) by 4.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 286,689 shares of the company’s stock after selling 14,513 shares during the period. Arkadios Wealth Advisors’ holdings in CION Investment were worth $3,412,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lazard Asset Management LLC bought a new stake in CION Investment during the 1st quarter valued at $37,000. First Heartland Consultants Inc. bought a new position in CION Investment in the 2nd quarter worth about $145,000. Fullcircle Wealth LLC purchased a new position in CION Investment during the 2nd quarter valued at about $156,000. Diversify Advisory Services LLC purchased a new stake in shares of CION Investment in the first quarter worth about $145,000. Finally, Marshall Wace LLP bought a new position in shares of CION Investment in the second quarter worth $164,000. Institutional investors own 32.01% of the company’s stock.

CION Investment Price Performance

CION traded down $0.12 during midday trading on Friday, reaching $11.90. 166,113 shares of the company’s stock traded hands, compared to its average volume of 228,432. The stock has a market capitalization of $637.71 million, a price-to-earnings ratio of 4.88 and a beta of 1.18. The firm has a fifty day moving average of $11.94 and a two-hundred day moving average of $11.98. CION Investment Co. has a 52 week low of $9.65 and a 52 week high of $12.69.

CION Investment (NYSE:CION) last announced its earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter. CION Investment had a net margin of 48.50% and a return on equity of 12.39%. The business had revenue of $61.36 million during the quarter. Sell-side analysts forecast that CION Investment Co. will post 1.77 EPS for the current year.

CION Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.36 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 12.10%. CION Investment’s dividend payout ratio (DPR) is presently 59.02%.

Analyst Upgrades and Downgrades

Separately, Oppenheimer initiated coverage on CION Investment in a research note 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.