Trexquant Investment LP Purchases 31,713 Shares of CION Investment Co. (NYSE:CION)

Trexquant Investment LP raised its position in CION Investment Co. (NYSE:CION - Free Report) by 68.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 78,149 shares of the company's stock after buying an additional 31,713 shares during the period. Trexquant Investment LP owned 0.15% of CION Investment worth $891,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Founders Financial Alliance LLC increased its stake in CION Investment by 5.3% in the 4th quarter. Founders Financial Alliance LLC now owns 21,769 shares of the company's stock worth $248,000 after acquiring an additional 1,086 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in shares of CION Investment by 2.6% in the 4th quarter. Concurrent Investment Advisors LLC now owns 42,822 shares of the company's stock valued at $488,000 after acquiring an additional 1,093 shares during the last quarter. Endowment Wealth Management Inc. boosted its stake in shares of CION Investment by 2.6% during the fourth quarter. Endowment Wealth Management Inc. now owns 59,852 shares of the company's stock valued at $682,000 after purchasing an additional 1,522 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in CION Investment by 15.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 24,621 shares of the company's stock worth $281,000 after acquiring an additional 3,205 shares during the last quarter. Finally, HighTower Advisors LLC lifted its holdings in CION Investment by 16.4% in the 4th quarter. HighTower Advisors LLC now owns 22,956 shares of the company's stock worth $262,000 after buying an additional 3,236 shares during the period. Institutional investors own 32.01% of the company's stock.

CION Investment Price Performance

CION stock traded down $0.07 on Wednesday, reaching $9.28. 41,520 shares of the company traded hands, compared to its average volume of 353,567. CION Investment Co. has a one year low of $8.51 and a one year high of $12.71. The company has a market cap of $492.09 million, a P/E ratio of 6.31 and a beta of 1.17. The firm has a fifty day simple moving average of $11.13 and a 200-day simple moving average of $11.43.

CION Investment (NYSE:CION - Get Free Report) last posted its quarterly earnings results on Thursday, March 13th. The company reported $0.35 EPS for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $54.11 million. On average, sell-side analysts forecast that CION Investment Co. will post 1.78 EPS for the current year.

CION Investment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 15.52%. The ex-dividend date was Friday, March 28th. CION Investment's payout ratio is currently 228.57%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company reissued an "underweight" rating and issued a $10.00 price target (down from $11.00) on shares of CION Investment in a research note 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.