CION Investment Co. (NYSE:CION) Shares Bought by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S grew its position in CION Investment Co. (NYSE:CION - Free Report) by 36.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 134,367 shares of the company's stock after buying an additional 36,227 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned 0.25% of CION Investment worth $1,532,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new stake in shares of CION Investment in the third quarter valued at $161,000. Virtu Financial LLC acquired a new position in shares of CION Investment in the 3rd quarter valued at about $127,000. Franklin Resources Inc. grew its stake in CION Investment by 13.6% during the third quarter. Franklin Resources Inc. now owns 358,956 shares of the company's stock worth $4,261,000 after buying an additional 43,076 shares during the period. JPMorgan Chase & Co. boosted its position in CION Investment by 108.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 19,488 shares of the company's stock worth $232,000 after purchasing an additional 10,129 shares during the period. Finally, Winthrop Advisory Group LLC purchased a new stake in shares of CION Investment in the fourth quarter worth about $195,000. Institutional investors and hedge funds own 32.01% of the company's stock.

Analyst Upgrades and Downgrades

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

CION Investment Stock Performance

CION opened at $9.66 on Wednesday. The company has a market capitalization of $511.98 million, a P/E ratio of 6.57 and a beta of 1.17. The company has a 50-day moving average of $10.89 and a 200-day moving average of $11.35. CION Investment Co. has a 1-year low of $8.51 and a 1-year high of $12.71.

CION Investment (NYSE:CION - Get Free Report) last posted its quarterly 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). CION Investment had a net margin of 31.21% and a return on equity of 11.49%. The firm had revenue of $87.91 million for the quarter, compared to analyst estimates of $54.11 million. As a group, sell-side analysts expect that CION Investment Co. will post 1.78 earnings per share for the current fiscal year.

CION Investment Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 14.91%. The ex-dividend date was Friday, March 28th. CION Investment's dividend payout ratio (DPR) is 228.57%.

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.

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