CION Investment (NYSE:CION) Cut to Hold at Wall Street Zen
by Mitch Edgeman · The Markets DailyWall Street Zen cut shares of CION Investment (NYSE:CION – Free Report) from a strong-buy rating to a hold rating in a research note released on Saturday.
A number of other equities research analysts also recently issued reports on CION. Weiss Ratings reissued a “hold (c)” rating on shares of CION Investment in a report on Monday, December 29th. Wells Fargo & Company reduced their price objective on shares of CION Investment from $8.50 to $7.00 and set an “underweight” rating for the company in a research note on Friday. Finally, Zacks Research lowered shares of CION Investment from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, CION Investment has a consensus rating of “Reduce” and a consensus price target of $7.00.
Check Out Our Latest Research Report on CION Investment
CION Investment Stock Performance
NYSE:CION opened at $6.71 on Friday. The business’s fifty day moving average is $8.72 and its 200 day moving average is $9.38. The firm has a market cap of $338.60 million, a price-to-earnings ratio of -17.19 and a beta of 1.09. CION Investment has a 52-week low of $6.50 and a 52-week high of $11.24.
CION Investment (NYSE:CION – Get Free Report) last issued its earnings results on Thursday, March 12th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.04). The company had revenue of $53.79 million during the quarter, compared to the consensus estimate of $51.77 million. CION Investment had a positive return on equity of 12.42% and a negative net margin of 8.57%. Equities analysts predict that CION Investment will post 1.78 EPS for the current fiscal year.
CION Investment Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be paid a $0.10 dividend. This represents a c) dividend on an annualized basis and a yield of 17.9%. The ex-dividend date is Friday, June 12th. CION Investment’s dividend payout ratio is currently -307.69%.
Institutional Trading of CION Investment
Large investors have recently modified their holdings of the business. Van ECK Associates Corp grew its holdings in shares of CION Investment by 4.2% during the third quarter. Van ECK Associates Corp now owns 1,359,023 shares of the company’s stock worth $12,883,000 after purchasing an additional 54,317 shares in the last quarter. Invesco Ltd. raised its stake in CION Investment by 33.6% in the second quarter. Invesco Ltd. now owns 1,343,185 shares of the company’s stock valued at $12,854,000 after purchasing an additional 338,121 shares in the last quarter. North Ground Capital raised its stake in CION Investment by 8.4% in the fourth quarter. North Ground Capital now owns 1,086,992 shares of the company’s stock valued at $10,511,000 after purchasing an additional 84,214 shares in the last quarter. Private Advisor Group LLC lifted its position in CION Investment by 4.5% during the fourth quarter. Private Advisor Group LLC now owns 740,833 shares of the company’s stock valued at $7,164,000 after purchasing an additional 31,911 shares during the last quarter. Finally, UBS Group AG lifted its position in CION Investment by 4.0% during the third quarter. UBS Group AG now owns 574,045 shares of the company’s stock valued at $5,442,000 after purchasing an additional 22,140 shares during the last quarter. Institutional investors own 32.01% of the company’s stock.
CION Investment Company Profile
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.