Sei Investments Co. Takes $316,000 Position in CION Investment Co. (NYSE:CION)

Sei Investments Co. purchased a new position in shares of CION Investment Co. (NYSE:CION) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 26,048 shares of the company’s stock, valued at approximately $316,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CION. Kowal Investment Group LLC increased its position in CION Investment by 3.7% during the 1st quarter. Kowal Investment Group LLC now owns 27,290 shares of the company’s stock worth $300,000 after purchasing an additional 964 shares during the period. Atomi Financial Group Inc. raised its position in CION Investment by 8.6% in the first quarter. Atomi Financial Group Inc. now owns 14,761 shares of the company’s stock worth $162,000 after acquiring an additional 1,166 shares in the last quarter. Endowment Wealth Management Inc. lifted its holdings in CION Investment by 2.3% in the second quarter. Endowment Wealth Management Inc. now owns 56,841 shares of the company’s stock valued at $689,000 after acquiring an additional 1,253 shares during the period. GPS Wealth Strategies Group LLC boosted its position in shares of CION Investment by 5.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 37,893 shares of the company’s stock worth $459,000 after purchasing an additional 1,901 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of CION Investment during the 1st quarter worth $37,000. 32.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

CION Investment Stock Performance

CION Investment stock opened at $11.76 on Friday. The firm has a market capitalization of $630.21 million, a price-to-earnings ratio of 4.82 and a beta of 1.18. CION Investment Co. has a fifty-two week low of $9.65 and a fifty-two week high of $12.69. The stock’s fifty day moving average is $11.92 and its two-hundred day moving average is $11.91.

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. The business had revenue of $61.36 million during the quarter. CION Investment had a net margin of 48.50% and a return on equity of 12.39%.

CION Investment Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.36 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 12.24%. CION Investment’s dividend payout ratio (DPR) is presently 59.02%.

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.