Cwm LLC Decreases Stock Holdings in CION Investment Co. (NYSE:CION)

Cwm LLC cut its position in CION Investment Co. (NYSE:CION) by 67.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 7,436 shares of the company’s stock after selling 15,209 shares during the quarter. Cwm LLC’s holdings in CION Investment were worth $88,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its position in CION Investment by 15.7% in the 2nd quarter. Van ECK Associates Corp now owns 1,237,366 shares of the company’s stock valued at $14,996,000 after purchasing an additional 167,567 shares during the last quarter. Acadian Asset Management LLC lifted its stake in CION Investment by 32.5% in the second quarter. Acadian Asset Management LLC now owns 695,609 shares of the company’s stock valued at $8,427,000 after acquiring an additional 170,635 shares during the last quarter. Alpine Global Management LLC lifted its stake in CION Investment by 143.6% in the first quarter. Alpine Global Management LLC now owns 633,297 shares of the company’s stock valued at $6,966,000 after acquiring an additional 373,297 shares during the last quarter. Private Advisor Group LLC raised its position in shares of CION Investment by 674.1% in the second quarter. Private Advisor Group LLC now owns 617,444 shares of the company’s stock valued at $7,483,000 after purchasing an additional 537,681 shares during the period. Finally, WealthPLAN Partners LLC raised its position in shares of CION Investment by 2.9% in the first quarter. WealthPLAN Partners LLC now owns 528,464 shares of the company’s stock valued at $5,813,000 after purchasing an additional 14,660 shares during the period. 32.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Oppenheimer assumed coverage on shares of CION Investment in a report on Tuesday, October 8th. They issued a “market perform” rating and a $13.00 price target on the stock.

CION Investment Stock Down 1.0 %

Shares of NYSE CION opened at $11.90 on Friday. The firm’s 50-day simple moving average is $11.94 and its 200 day simple moving average is $11.98. The company has a market cap of $637.71 million, a price-to-earnings ratio of 4.88 and a beta of 1.18. CION Investment Co. has a 12-month low of $9.65 and a 12-month high of $12.69.

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

CION Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 12.10%. The ex-dividend date of this dividend was Tuesday, September 3rd. CION Investment’s dividend payout ratio (DPR) is currently 59.02%.

CION Investment Company 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.