LSV Asset Management Grows Stock Position in CION Investment Corporation $CION

LSV Asset Management grew its position in CION Investment Corporation (NYSE:CION) by 88.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 352,236 shares of the company’s stock after buying an additional 165,636 shares during the quarter. LSV Asset Management’s holdings in CION Investment were worth $3,406,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Diversify Advisory Services LLC purchased a new position in shares of CION Investment in the fourth quarter valued at approximately $95,000. Apollon Wealth Management LLC lifted its position in shares of CION Investment by 23.7% in the fourth quarter. Apollon Wealth Management LLC now owns 83,184 shares of the company’s stock valued at $804,000 after acquiring an additional 15,912 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in shares of CION Investment in the fourth quarter valued at approximately $133,000. Savvy Advisors Inc. acquired a new stake in shares of CION Investment in the fourth quarter valued at approximately $103,000. Finally, First Heartland Consultants Inc. acquired a new stake in shares of CION Investment in the fourth quarter valued at approximately $114,000. Hedge funds and other institutional investors own 32.01% of the company’s stock.

CION Investment Stock Performance

NYSE:CION opened at $6.67 on Wednesday. CION Investment Corporation has a one year low of $6.50 and a one year high of $10.93. The stock has a market cap of $332.10 million, a PE ratio of -166.71 and a beta of 1.16. The stock has a 50 day moving average price of $7.07 and a 200 day moving average price of $8.49.

CION Investment (NYSE:CION) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). The company had revenue of $49.54 million during the quarter, compared to analyst estimates of $49.12 million. CION Investment had a negative net margin of 0.41% and a positive return on equity of 11.96%. As a group, analysts predict that CION Investment Corporation will post 1.05 earnings per share for the current fiscal year.

CION Investment Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a c) annualized dividend and a yield of 18.0%. CION Investment’s dividend payout ratio (DPR) is -3,000.00%.

Analyst Ratings Changes

CION has been the subject of several recent research reports. Zacks Research raised CION Investment from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Wall Street Zen cut CION Investment from a “strong-buy” rating to a “hold” rating in a report on Saturday, March 14th. Weiss Ratings cut CION Investment from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 27th. Finally, Wells Fargo & Company cut their price target on CION Investment from $7.00 to $6.50 and set an “underweight” rating for the company in a report on Monday, May 11th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, CION Investment has a consensus rating of “Sell” and an average price target of $6.50.

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.