Diversify Wealth Management LLC Lowers Position in CION Investment Co. (NYSE:CION)

Diversify Wealth Management LLC reduced its position in shares of CION Investment Co. (NYSE:CION) by 5.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 184,101 shares of the company’s stock after selling 9,675 shares during the period. Diversify Wealth Management LLC’s holdings in CION Investment were worth $2,198,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CION. Lazard Asset Management LLC acquired a new stake in shares of CION Investment in the 1st quarter valued at approximately $37,000. Diversify Advisory Services LLC purchased a new stake in shares of CION Investment during the 1st quarter worth $145,000. First Heartland Consultants Inc. purchased a new stake in shares of CION Investment during the 2nd quarter worth $145,000. Catalina Capital Group LLC purchased a new position in shares of CION Investment in the 1st quarter valued at about $156,000. Finally, Fullcircle Wealth LLC acquired a new stake in shares of CION Investment in the second quarter valued at about $156,000. Institutional investors and hedge funds own 32.01% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CION. Wells Fargo & Company dropped their target price on shares of CION Investment from $12.00 to $11.50 and set an “equal weight” rating for the company in a report on Tuesday. Oppenheimer began coverage on CION Investment in a research note on Tuesday, October 8th. They issued a “market perform” rating and a $13.00 price objective for the company.

CION Investment Stock Performance

NYSE CION traded up $0.02 during trading hours on Wednesday, reaching $11.80. The company’s stock had a trading volume of 64,837 shares, compared to its average volume of 227,099. The stock has a market cap of $630.76 million, a PE ratio of 5.03 and a beta of 1.18. The company’s 50-day moving average is $11.92 and its two-hundred day moving average is $12.01. CION Investment Co. has a fifty-two week low of $9.81 and a fifty-two week high of $12.69.

CION Investment (NYSE:CION) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter. CION Investment had a net margin of 48.50% and a return on equity of 12.39%. The business had revenue of $61.36 million during the quarter. Equities analysts expect that CION Investment Co. will post 1.77 earnings per share for the current fiscal year.

CION Investment Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 12.20%. CION Investment’s dividend payout ratio (DPR) is 61.28%.

CION Investment 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.