128,023 Shares in CION Investment Corporation $CION Purchased by Diversify Advisory Services LLC

Diversify Advisory Services LLC bought a new stake in shares of CION Investment Corporation (NYSE:CION) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 128,023 shares of the company’s stock, valued at approximately $768,000. Diversify Advisory Services LLC owned 0.26% of CION Investment as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets bought a new stake in shares of CION Investment in the 3rd quarter valued at about $37,000. OneDigital Investment Advisors LLC acquired a new stake in shares of CION Investment during the second quarter worth $73,000. Geneos Wealth Management Inc. increased its position in shares of CION Investment by 21.7% in the 2nd quarter. Geneos Wealth Management Inc. now owns 8,802 shares of the company’s stock valued at $84,000 after acquiring an additional 1,571 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in CION Investment by 183.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 8,872 shares of the company’s stock worth $86,000 after acquiring an additional 5,739 shares during the last quarter. Finally, Empowered Funds LLC acquired a new stake in CION Investment during the 1st quarter worth about $87,000. Hedge funds and other institutional investors own 32.01% of the company’s stock.

CION Investment Stock Performance

Shares of CION Investment stock opened at $7.31 on Friday. The firm has a 50-day simple moving average of $6.55 and a two-hundred day simple moving average of $7.13. The company has a market cap of $359.65 million, a P/E ratio of 121.83 and a beta of 1.11. CION Investment Corporation has a fifty-two week low of $5.83 and a fifty-two week high of $10.93.

CION Investment (NYSE:CION) last posted its earnings results on Wednesday, August 5th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. CION Investment had a return on equity of 11.95% and a net margin of 1.17%.The firm had revenue of $49.79 million for the quarter, compared to analysts’ expectations of $49.78 million. Equities research analysts forecast that CION Investment Corporation will post 1.08 EPS for the current year.

CION Investment Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, December 28th. Shareholders of record on Friday, December 11th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, December 11th. This represents a c) dividend on an annualized basis and a yield of 16.4%. CION Investment’s dividend payout ratio is currently 2,000.00%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on CION Investment from $7.00 to $6.50 and set an “underweight” rating for the company in a research note on Monday, May 11th. Zacks Research cut shares of CION Investment from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Finally, Weiss Ratings upgraded shares of CION Investment from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $6.50.

About CION Investment

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.