Concurrent Investment Advisors LLC Raises Holdings in CION Investment Co. (NYSE:CION)

Concurrent Investment Advisors LLC increased its stake in shares of CION Investment Co. (NYSE:CION) by 2.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,729 shares of the company’s stock after acquiring an additional 1,190 shares during the period. Concurrent Investment Advisors LLC’s holdings in CION Investment were worth $497,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CION. Lazard Asset Management LLC acquired a new stake in CION Investment in the 1st quarter worth about $37,000. Focused Wealth Management Inc purchased a new stake in CION Investment in the 3rd quarter valued at about $120,000. First Heartland Consultants Inc. acquired a new position in shares of CION Investment in the 2nd quarter worth approximately $145,000. Fullcircle Wealth LLC acquired a new position in CION Investment during the second quarter worth $156,000. Finally, Atomi Financial Group Inc. boosted its holdings in CION Investment by 8.6% during the 1st quarter. Atomi Financial Group Inc. now owns 14,761 shares of the company’s stock valued at $162,000 after acquiring an additional 1,166 shares during the period. 32.01% of the stock is owned by hedge funds and other institutional investors.

CION Investment Stock Performance

Shares of NYSE CION opened at $11.51 on Friday. The firm’s 50 day moving average price is $11.83 and its 200 day moving average price is $12.03. CION Investment Co. has a 1 year low of $10.44 and a 1 year high of $12.69. The firm has a market cap of $615.21 million, a P/E ratio of 4.90 and a beta of 1.18.

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

CION Investment Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 12.16%. The ex-dividend date is Monday, December 2nd. CION Investment’s dividend payout ratio (DPR) is presently 61.28%.

Wall Street Analyst Weigh In

CION has been the topic of several recent research reports. Oppenheimer initiated coverage on CION Investment in a report on Tuesday, October 8th. They set a “market perform” rating and a $13.00 price target on the stock. Wells Fargo & Company decreased their price objective on CION Investment from $12.00 to $11.50 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th.

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.