Alpine Global Management LLC Raises Holdings in CION Investment Co. (NYSE:CION)

Alpine Global Management LLC raised its position in shares of CION Investment Co. (NYSE:CION - Free Report) by 42.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 383,632 shares of the company's stock after purchasing an additional 113,632 shares during the quarter. CION Investment accounts for about 1.0% of Alpine Global Management LLC's investment portfolio, making the stock its 16th largest position. Alpine Global Management LLC owned approximately 0.72% of CION Investment worth $4,373,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in shares of CION Investment during the 4th quarter valued at $96,000. Virtu Financial LLC bought a new stake in CION Investment in the 3rd quarter valued at $127,000. GWN Securities Inc. purchased a new stake in CION Investment in the 4th quarter worth $124,000. Dynamic Technology Lab Private Ltd bought a new position in CION Investment during the fourth quarter valued at approximately $127,000. Finally, Entropy Technologies LP bought a new position in shares of CION Investment during the 4th quarter valued at approximately $138,000. 32.01% of the stock is currently owned by institutional investors.

CION Investment Price Performance

Shares of NYSE:CION traded up $0.12 on Friday, hitting $10.10. 220,670 shares of the company's stock were exchanged, compared to its average volume of 254,129. The stock has a market capitalization of $535.57 million, a price-to-earnings ratio of 6.87 and a beta of 1.17. CION Investment Co. has a 12 month low of $8.51 and a 12 month high of $12.71. The business's 50 day simple moving average is $10.80 and its two-hundred day simple moving average is $11.32.

CION Investment (NYSE:CION - Get Free Report) last issued 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 company had revenue of $87.91 million for the quarter, compared to analysts' expectations of $54.11 million. CION Investment had a return on equity of 11.49% and a net margin of 31.21%. Equities analysts forecast that CION Investment Co. will post 1.78 EPS for the current fiscal year.

CION Investment Announces Dividend

The company 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. This represents a $1.44 annualized dividend and a dividend yield of 14.26%. The ex-dividend date was Friday, March 28th. CION Investment's dividend payout ratio is 228.57%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company restated an "underweight" rating and set a $10.00 price objective (down from $11.00) on shares of CION Investment in a research 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.