CION Investment Co. (NYSE:CION - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $11.37, but opened at $11.05. CION Investment shares last traded at $11.09, with a volume of 78,433 shares traded.
Wall Street Analyst Weigh In
Separately, Wells Fargo & Company reaffirmed an "underweight" rating and issued a $10.00 target price (down previously from $11.00) on shares of CION Investment in a report on Monday.
Check Out Our Latest Research Report on CION
CION Investment Price Performance
The stock has a market cap of $575.08 million, a P/E ratio of 7.38 and a beta of 1.11. The stock's 50-day moving average is $11.76 and its two-hundred day moving average is $11.71.
CION Investment (NYSE:CION - Get Free Report) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.35 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 company had revenue of $87.91 million for the quarter, compared to the consensus estimate of $54.11 million. On average, analysts anticipate that CION Investment Co. will post 1.78 EPS for the current fiscal year.
CION Investment Announces Dividend
The company 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. The ex-dividend date is Friday, March 28th. This represents a $1.44 annualized dividend and a dividend yield of 13.28%. CION Investment's dividend payout ratio (DPR) is 228.57%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. lifted its position in CION Investment by 14.1% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 504,411 shares of the company's stock valued at $5,750,000 after purchasing an additional 62,365 shares during the last quarter. Jane Street Group LLC purchased a new position in CION Investment in the third quarter worth about $161,000. A&I Financial Services LLC purchased a new stake in CION Investment during the fourth quarter valued at approximately $386,000. Whipplewood Advisors LLC bought a new stake in shares of CION Investment in the 4th quarter valued at approximately $466,000. Finally, Arete Wealth Advisors LLC boosted its holdings in shares of CION Investment by 67.6% in the 3rd quarter. Arete Wealth Advisors LLC now owns 28,275 shares of the company's stock worth $337,000 after purchasing an additional 11,408 shares during the period. 32.01% of the stock is owned by hedge funds and other institutional investors.
CION Investment Company Profile
(
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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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