Kingswood Wealth Advisors LLC Takes Position in CION Investment Co. (NYSE:CION)

Kingswood Wealth Advisors LLC bought a new position in shares of CION Investment Co. (NYSE:CION - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 29,198 shares of the company's stock, valued at approximately $333,000. Kingswood Wealth Advisors LLC owned about 0.05% of CION Investment as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Van ECK Associates Corp boosted its position in CION Investment by 5.7% during the third quarter. Van ECK Associates Corp now owns 1,307,974 shares of the company's stock valued at $15,617,000 after acquiring an additional 70,608 shares during the last quarter. International Assets Investment Management LLC lifted its stake in CION Investment by 1,090.0% in the third quarter. International Assets Investment Management LLC now owns 871,080 shares of the company's stock valued at $103,660,000 after buying an additional 797,880 shares during the period. Private Advisor Group LLC boosted its stake in CION Investment by 5.5% during the third quarter. Private Advisor Group LLC now owns 651,505 shares of the company's stock worth $7,753,000 after acquiring an additional 34,061 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew 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 period. Finally, Franklin Resources Inc. grew its position in CION Investment by 13.6% in the 3rd quarter. Franklin Resources Inc. now owns 358,956 shares of the company's stock valued at $4,261,000 after purchasing an additional 43,076 shares during the period. Institutional investors own 32.01% of the company's stock.

CION Investment Trading Down 1.1 %

Shares of NYSE:CION traded down $0.13 during trading on Tuesday, reaching $11.57. The company had a trading volume of 255,533 shares, compared to its average volume of 236,411. The company has a fifty day moving average of $11.48 and a two-hundred day moving average of $11.74. CION Investment Co. has a 12 month low of $10.52 and a 12 month high of $12.69. The stock has a market capitalization of $616.41 million, a P/E ratio of 7.87 and a beta of 1.13.

CION Investment (NYSE:CION - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.02. The business had revenue of $59.63 million during the quarter, compared to analysts' expectations of $57.75 million. CION Investment had a net margin of 31.21% and a return on equity of 11.49%. During the same quarter in the prior year, the company posted $0.55 EPS. As a group, equities research analysts predict that CION Investment Co. will post 1.78 earnings per share for the current year.

CION Investment Dividend Announcement

The firm also recently announced an annual dividend, which was paid on Monday, January 27th. Stockholders of record on Monday, December 30th were issued a dividend of $0.05 per share. This represents a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, December 30th. CION Investment's dividend payout ratio (DPR) is presently 97.96%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CION. Wells Fargo & Company lowered their price objective on CION Investment from $12.00 to $11.50 and set an "equal weight" rating for the company in a research note on Tuesday, October 29th. Oppenheimer assumed coverage on shares of CION Investment in a research report on Tuesday, October 8th. They set a "market perform" rating and a $13.00 target price for the company.

CION Investment Company Profile

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.