Aviso Wealth Management Has $202,000 Holdings in CION Investment Co. (NYSE:CION)

Aviso Wealth Management trimmed its position in shares of CION Investment Co. (NYSE:CION) by 19.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,691 shares of the company’s stock after selling 4,159 shares during the period. Aviso Wealth Management’s holdings in CION Investment were worth $202,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC acquired a new position in CION Investment during the 4th quarter worth approximately $96,000. Quantbot Technologies LP bought a new position in shares of CION Investment during the third quarter worth about $104,000. Virtu Financial LLC acquired a new stake in shares of CION Investment during the third quarter worth $127,000. GWN Securities Inc. acquired a new stake in CION Investment during the 4th quarter worth about $124,000. Finally, Legacy Investment Solutions LLC bought a new stake in CION Investment in the third quarter valued at $124,000. 32.01% of the stock is currently owned by institutional investors and hedge funds.

CION Investment Stock Performance

Shares of CION opened at $10.96 on Wednesday. The firm has a market cap of $581.18 million, a P/E ratio of 7.46 and a beta of 1.11. CION Investment Co. has a fifty-two week low of $10.64 and a fifty-two week high of $12.71. The business has a 50-day moving average of $11.75 and a 200 day moving average of $11.68.

CION Investment (NYSE:CION) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). CION Investment had a net margin of 31.21% and a return on equity of 11.49%. The company had revenue of $87.91 million for the quarter, compared to the consensus estimate of $54.11 million. As a group, research analysts predict that CION Investment Co. will post 1.78 earnings per share for the current fiscal year.

CION Investment Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, March 28th. This represents a $1.44 annualized dividend and a yield of 13.14%. CION Investment’s payout ratio is presently 228.57%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company reaffirmed an “underweight” rating and issued a $10.00 price target (down previously from $11.00) on shares of CION Investment in a research report on Monday, March 17th.

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.