CION Investment Co. (NYSE:CION) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its position in CION Investment Co. (NYSE:CION - Free Report) by 12.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 479,688 shares of the company's stock after selling 68,912 shares during the period. Renaissance Technologies LLC owned about 0.90% of CION Investment worth $5,468,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CION. Raymond James Financial Inc. acquired a new stake in shares of CION Investment in the fourth quarter valued at about $1,711,000. Hennion & Walsh Asset Management Inc. lifted its position in shares of CION Investment by 14.1% during the 4th 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. A&I Financial Services LLC purchased a new stake in shares of CION Investment during the 4th quarter worth approximately $386,000. Jane Street Group LLC purchased a new stake in shares of CION Investment during the 3rd quarter worth approximately $161,000. Finally, Whipplewood Advisors LLC acquired a new stake in shares of CION Investment in the 4th quarter worth approximately $466,000. Institutional investors and hedge funds own 32.01% of the company's stock.

CION Investment Stock Performance

NYSE:CION traded up $0.05 during mid-day trading on Friday, hitting $10.03. 54,041 shares of the company's stock traded hands, compared to its average volume of 253,040. The company has a market cap of $531.60 million, a PE ratio of 6.81 and a beta of 1.17. The firm's 50 day simple moving average is $10.80 and its 200 day simple moving average is $11.32. 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 issued its quarterly earnings data on Thursday, March 13th. The company reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.01). CION Investment had a return on equity of 11.49% and a net margin of 31.21%. The business had revenue of $87.91 million for the quarter, compared to analysts' expectations of $54.11 million. On average, research analysts expect that CION Investment Co. will post 1.78 earnings per share for the current fiscal year.

CION Investment Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a $0.36 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 14.36%. CION Investment's dividend payout ratio (DPR) is 228.57%.

Wall Street Analysts Forecast Growth

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

CION Investment 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.