Virtus Investment Advisers LLC Buys 18,897 Shares of CION Investment Corporation $CION

Virtus Investment Advisers LLC increased its stake in CION Investment Corporation (NYSE:CION) by 20.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 109,146 shares of the company’s stock after buying an additional 18,897 shares during the period. Virtus Investment Advisers LLC’s holdings in CION Investment were worth $1,045,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CION. AE Wealth Management LLC boosted its holdings in CION Investment by 3.3% in the second quarter. AE Wealth Management LLC now owns 33,123 shares of the company’s stock worth $317,000 after acquiring an additional 1,044 shares in the last quarter. Belpointe Asset Management LLC raised its position in shares of CION Investment by 10.3% in the 2nd quarter. Belpointe Asset Management LLC now owns 15,946 shares of the company’s stock worth $153,000 after purchasing an additional 1,490 shares during the last quarter. BlueChip Wealth Advisors LLC boosted its stake in CION Investment by 3.1% in the 2nd quarter. BlueChip Wealth Advisors LLC now owns 52,976 shares of the company’s stock worth $507,000 after purchasing an additional 1,610 shares in the last quarter. Simon Quick Advisors LLC boosted its stake in CION Investment by 8.1% in the 2nd quarter. Simon Quick Advisors LLC now owns 25,526 shares of the company’s stock worth $244,000 after purchasing an additional 1,902 shares in the last quarter. Finally, Beacon Capital Management LLC grew its position in CION Investment by 7.7% during the 2nd quarter. Beacon Capital Management LLC now owns 33,404 shares of the company’s stock valued at $320,000 after purchasing an additional 2,374 shares during the last quarter. Hedge funds and other institutional investors own 32.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CION shares. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $8.50 target price (down from $9.00) on shares of CION Investment in a report on Tuesday, August 12th. Wall Street Zen upgraded shares of CION Investment from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 22nd. Weiss Ratings restated a “hold (c)” rating on shares of CION Investment in a report on Wednesday. Finally, Zacks Research raised CION Investment from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.50.

CION Investment Trading Up 1.8%

NYSE:CION opened at $10.24 on Friday. CION Investment Corporation has a 12 month low of $8.51 and a 12 month high of $12.71. The company has a market cap of $533.37 million, a PE ratio of -53.89 and a beta of 1.08. The company has a 50 day simple moving average of $9.57 and a two-hundred day simple moving average of $9.77.

CION Investment (NYSE:CION) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.39. CION Investment had a positive return on equity of 9.63% and a negative net margin of 4.57%.The company had revenue of $78.71 million during the quarter, compared to analysts’ expectations of $52.41 million. Research analysts forecast that CION Investment Corporation will post 1.78 earnings per share for the current year.

CION Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 14.1%. The ex-dividend date is Monday, December 1st. CION Investment’s dividend payout ratio is 282.35%.

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.