71,233 Shares in CION Investment Corporation $CION Purchased by Hopwood Nicholas Hunter

Hopwood Nicholas Hunter purchased a new position in shares of CION Investment Corporation (NYSE:CION) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 71,233 shares of the company’s stock, valued at approximately $444,000.

A number of other institutional investors also recently added to or reduced their stakes in CION. BNP Paribas Financial Markets bought a new position in shares of CION Investment during the third quarter valued at $37,000. Geneos Wealth Management Inc. boosted its holdings in shares of CION Investment by 21.7% in the 2nd quarter. Geneos Wealth Management Inc. now owns 8,802 shares of the company’s stock worth $84,000 after acquiring an additional 1,571 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in CION Investment by 183.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 8,872 shares of the company’s stock worth $86,000 after acquiring an additional 5,739 shares during the last quarter. Aquatic Capital Management LLC grew its position in CION Investment by 165.0% during the 3rd quarter. Aquatic Capital Management LLC now owns 10,354 shares of the company’s stock worth $98,000 after acquiring an additional 6,447 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. acquired a new stake in CION Investment during the 4th quarter valued at $101,000. 32.01% of the stock is owned by institutional investors and hedge funds.

CION Investment Stock Up 0.3%

CION Investment stock opened at $7.38 on Friday. The stock has a market cap of $363.10 million, a price-to-earnings ratio of 123.00 and a beta of 1.14. CION Investment Corporation has a 12-month low of $5.83 and a 12-month high of $10.40. The business’s 50-day simple moving average is $6.75 and its 200 day simple moving average is $7.04.

CION Investment (NYSE:CION) last issued its earnings results on Wednesday, August 5th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.03. The company had revenue of $49.79 million for the quarter, compared to analyst estimates of $49.78 million. CION Investment had a net margin of 1.17% and a return on equity of 11.95%. As a group, sell-side analysts expect that CION Investment Corporation will post 1.08 EPS for the current year.

CION Investment Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, December 28th. Stockholders of record on Friday, December 11th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a c) dividend on an annualized basis and a dividend yield of 16.3%. CION Investment’s dividend payout ratio is 2,000.00%.

Analysts Set New Price Targets

A number of equities analysts have commented on CION shares. Zacks Research lowered CION Investment from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Weiss Ratings upgraded CION Investment from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. 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. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $6.50.

About CION Investment

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.