CION Investment Co. (NYSE:CION) Shares Sold by Callodine Capital Management LP

Callodine Capital Management LP decreased its position in shares of CION Investment Co. (NYSE:CION - Free Report) by 20.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 500,000 shares of the company's stock after selling 125,180 shares during the period. CION Investment comprises 1.2% of Callodine Capital Management LP's investment portfolio, making the stock its 29th biggest position. Callodine Capital Management LP owned approximately 0.94% of CION Investment worth $5,700,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new stake in CION Investment during the 4th quarter worth approximately $96,000. GWN Securities Inc. purchased a new position in shares of CION Investment in the 4th quarter valued at about $124,000. Virtu Financial LLC purchased a new stake in shares of CION Investment during the third quarter worth approximately $127,000. Dynamic Technology Lab Private Ltd acquired a new position in CION Investment during the 4th quarter worth approximately $127,000. Finally, Entropy Technologies LP purchased a new position in CION Investment in the fourth quarter valued at $138,000. 32.01% of the stock is owned by institutional investors and hedge funds.

CION Investment Trading Up 2.1 %

Shares of NYSE CION traded up $0.20 during trading hours on Wednesday, reaching $9.83. The stock had a trading volume of 189,507 shares, compared to its average volume of 253,713. The firm has a market cap of $521.26 million, a price-to-earnings ratio of 6.69 and a beta of 1.17. CION Investment Co. has a fifty-two week low of $8.51 and a fifty-two week high of $12.71. The firm has a 50-day moving average of $10.89 and a 200-day moving average of $11.35.

CION Investment (NYSE:CION - Get Free Report) last issued its earnings results on Thursday, March 13th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). The firm had revenue of $87.91 million during the quarter, compared to analysts' expectations of $54.11 million. CION Investment had a net margin of 31.21% and a return on equity of 11.49%. On average, equities analysts predict that CION Investment Co. will post 1.78 EPS for the current year.

CION Investment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a $0.36 dividend. The ex-dividend date was Friday, March 28th. This represents a $1.44 dividend on an annualized basis and a yield of 14.65%. CION Investment's dividend payout ratio (DPR) is presently 228.57%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company reissued an "underweight" rating and set a $10.00 price objective (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.