Cubist Systematic Strategies LLC Sells 55,650 Shares of CION Investment Co. (NYSE:CION)

Cubist Systematic Strategies LLC lessened its holdings in shares of CION Investment Co. (NYSE:CION - Free Report) by 61.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,335 shares of the company's stock after selling 55,650 shares during the period. Cubist Systematic Strategies LLC owned 0.07% of CION Investment worth $428,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lazard Asset Management LLC bought a new stake in CION Investment during the first quarter worth about $37,000. Creekmur Asset Management LLC bought a new position in CION Investment during the 4th quarter valued at approximately $42,000. First Heartland Consultants Inc. bought a new position in CION Investment during the 2nd quarter valued at approximately $145,000. Fullcircle Wealth LLC purchased a new position in CION Investment during the second quarter valued at $156,000. Finally, Diversify Advisory Services LLC bought a new stake in CION Investment in the first quarter worth $145,000. 32.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer started coverage on CION Investment in a report on Tuesday, October 8th. They set a "market perform" rating and a $13.00 price target for the company.

CION Investment Stock Performance

Shares of CION traded down $0.01 on Monday, hitting $11.88. 119,239 shares of the stock traded hands, compared to its average volume of 231,533. CION Investment Co. has a one year low of $9.65 and a one year high of $12.69. The company has a market capitalization of $636.37 million, a PE ratio of 4.87 and a beta of 1.18. The business has a 50 day simple moving average of $11.91 and a 200 day simple moving average of $11.93.

CION Investment (NYSE:CION - Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter. The business had revenue of $61.36 million during the quarter. CION Investment had a return on equity of 12.39% and a net margin of 48.50%. On average, equities analysts expect that CION Investment Co. will post 1.77 earnings per share for the current year.

CION Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 12.13%. CION Investment's dividend payout ratio (DPR) is currently 59.02%.

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.