CION Investment (NYSE:CION) Posts Earnings Results, Misses Expectations By $1.17 EPS

by · The Cerbat Gem

CION Investment (NYSE:CION – Get Free Report) released its quarterly earnings data on Thursday. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($1.17), reports. CION Investment had a net margin of 10.59% and a return on equity of 12.02%. The company had revenue of $53.79 million during the quarter, compared to the consensus estimate of $51.77 million.

CION Investment Stock Down 5.4%

CION opened at $7.27 on Thursday. The stock has a market cap of $378.46 million, a price-to-earnings ratio of 14.15 and a beta of 1.09. CION Investment has a 12-month low of $7.40 and a 12-month high of $12.19. The business has a 50 day moving average of $8.90 and a 200-day moving average of $9.47.

CION Investment Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a dividend of $0.10 per share. This represents a c) dividend on an annualized basis and a yield of 16.5%. The ex-dividend date of this dividend is Friday, March 13th. CION Investment’s payout ratio is 235.29%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CION shares. Weiss Ratings restated a “hold (c)” rating on shares of CION Investment in a report on Monday, December 29th. Wall Street Zen raised CION Investment from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 17th. Finally, Zacks Research cut CION Investment from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $8.50.

View Our Latest Report on CION

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets acquired a new stake in CION Investment during the third quarter worth approximately $37,000. Geneos Wealth Management Inc. increased its position in CION Investment by 21.7% during the second quarter. Geneos Wealth Management Inc. now owns 8,802 shares of the company’s stock worth $84,000 after acquiring an additional 1,571 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of CION Investment by 183.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 8,872 shares of the company’s stock worth $86,000 after purchasing an additional 5,739 shares during the period. Aquatic Capital Management LLC raised its holdings in CION Investment by 165.0% in the 3rd quarter. Aquatic Capital Management LLC now owns 10,354 shares of the company’s stock valued at $98,000 after acquiring an additional 6,447 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. bought a new stake in CION Investment during the fourth quarter worth about $101,000. Institutional investors and hedge funds own 32.01% of the company’s stock.

About CION Investment

(Get Free Report)

CION Investment Corporation is a closed‐end, non‐diversified management investment company organized as a business development company under the Investment Company Act of 1940. Externally managed by CION Investment Management, LLC, the firm specializes in providing flexible capital solutions to U.S. and Canadian middle‐market companies. By combining debt and equity financing, CION seeks to support growth, acquisitions, recapitalizations and other strategic initiatives for its portfolio companies.

The company’s investment strategy centers on senior secured loans, subordinated debt and private equity interests.

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