CION Investment Co. (NYSE:CION) Stake Boosted by HighTower Advisors LLC

HighTower Advisors LLC increased its position in shares of CION Investment Co. (NYSE:CION) by 16.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,956 shares of the company’s stock after acquiring an additional 3,236 shares during the period. HighTower Advisors LLC’s holdings in CION Investment were worth $262,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CION. Van ECK Associates Corp raised its stake in shares of CION Investment by 1.7% during the 4th quarter. Van ECK Associates Corp now owns 1,329,799 shares of the company’s stock worth $15,160,000 after purchasing an additional 21,825 shares in the last quarter. Private Advisor Group LLC increased its holdings in CION Investment by 2.5% in the fourth quarter. Private Advisor Group LLC now owns 667,922 shares of the company’s stock worth $7,614,000 after buying an additional 16,417 shares during the last quarter. Wealthfront Advisers LLC bought a new position in CION Investment during the fourth quarter valued at approximately $6,899,000. Hennion & Walsh Asset Management Inc. lifted its stake in CION Investment by 14.1% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 504,411 shares of the company’s stock valued at $5,750,000 after acquiring an additional 62,365 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in CION Investment by 13.6% in the third quarter. Franklin Resources Inc. now owns 358,956 shares of the company’s stock worth $4,261,000 after acquiring an additional 43,076 shares in the last quarter. Institutional investors and hedge funds own 32.01% of the company’s stock.

CION Investment Stock Performance

Shares of NYSE CION opened at $10.49 on Thursday. CION Investment Co. has a 52 week low of $10.14 and a 52 week high of $12.71. The business’s 50-day simple moving average is $11.65 and its 200-day simple moving average is $11.64. The firm has a market cap of $556.25 million, a price-to-earnings ratio of 7.14 and a beta of 1.11.

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

CION Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 13.73%. The ex-dividend date of this dividend is Friday, March 28th. CION Investment’s payout ratio is 228.57%.

Analyst Ratings Changes

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

About CION Investment

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.