Van ECK Associates Corp Buys 70,608 Shares of CION Investment Co. (NYSE:CION)

Van ECK Associates Corp raised its stake in CION Investment Co. (NYSE:CION - Free Report) by 5.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,307,974 shares of the company's stock after acquiring an additional 70,608 shares during the quarter. Van ECK Associates Corp owned about 2.44% of CION Investment worth $15,617,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Catalina Capital Group LLC bought a new position in CION Investment in the first quarter valued at about $156,000. WealthPLAN Partners LLC boosted its stake in shares of CION Investment by 2.9% in the 1st quarter. WealthPLAN Partners LLC now owns 528,464 shares of the company's stock valued at $5,813,000 after purchasing an additional 14,660 shares during the last quarter. Atomi Financial Group Inc. grew its position in shares of CION Investment by 8.6% during the 1st quarter. Atomi Financial Group Inc. now owns 14,761 shares of the company's stock worth $162,000 after buying an additional 1,166 shares during the period. Endowment Wealth Management Inc. raised its stake in shares of CION Investment by 3.7% during the first quarter. Endowment Wealth Management Inc. now owns 55,588 shares of the company's stock worth $611,000 after buying an additional 2,009 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in CION Investment in the first quarter valued at approximately $37,000. 32.01% of the stock is owned by institutional investors.

CION Investment Stock Up 2.2 %

CION Investment stock traded up $0.26 during midday trading on Wednesday, hitting $11.87. 222,101 shares of the stock were exchanged, compared to its average volume of 227,030. CION Investment Co. has a 52 week low of $10.14 and a 52 week high of $12.69. The stock has a market capitalization of $634.45 million, a PE ratio of 5.05 and a beta of 1.18. The company has a fifty day simple moving average of $11.86 and a two-hundred day simple moving average of $12.03.

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

Analyst Ratings Changes

Several brokerages have commented on CION. 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. Wells Fargo & Company dropped their price objective on CION Investment from $12.00 to $11.50 and set an "equal weight" rating for the company in a report on Tuesday, October 29th.

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.