HighTower Advisors LLC Has $262,000 Stake in CION Investment Co. (NYSE:CION)

HighTower Advisors LLC lifted its stake in CION Investment Co. (NYSE:CION) by 16.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,956 shares of the company’s stock after purchasing an additional 3,236 shares during the period. HighTower Advisors LLC’s holdings in CION Investment were worth $262,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in CION Investment during the 3rd quarter worth $104,000. Townsquare Capital LLC raised its stake in CION Investment by 7.0% in the 3rd quarter. Townsquare Capital LLC now owns 31,438 shares of the company’s stock valued at $374,000 after acquiring an additional 2,061 shares during the period. Arete Wealth Advisors LLC grew its stake in CION Investment by 67.6% in the 3rd quarter. Arete Wealth Advisors LLC now owns 28,275 shares of the company’s stock valued at $337,000 after buying an additional 11,408 shares during the last quarter. Paloma Partners Management Co acquired a new stake in CION Investment during the 3rd quarter worth approximately $220,000. Finally, Jane Street Group LLC bought a new position in CION Investment during the third quarter worth about $161,000. 32.01% of the stock is currently owned by institutional investors and hedge funds.

CION Investment Stock Performance

Shares of NYSE:CION opened at $10.49 on Thursday. CION Investment Co. has a 52-week low of $10.14 and a 52-week high of $12.71. The company has a fifty day moving average of $11.65 and a 200-day moving average of $11.64. The company has a market capitalization of $556.25 million, a PE ratio of 7.14 and a beta of 1.11.

CION Investment (NYSE:CION) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). CION Investment had a return on equity of 11.49% and a net margin of 31.21%. The firm had revenue of $87.91 million for the quarter, compared to the consensus estimate of $54.11 million. On average, equities analysts forecast that CION Investment Co. will post 1.78 EPS for the current fiscal year.

CION Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 13.73%. The ex-dividend date of this dividend is Friday, March 28th. CION Investment’s dividend payout ratio (DPR) is currently 228.57%.

Analyst Ratings Changes

Separately, Wells Fargo & Company reaffirmed an “underweight” rating and issued a $10.00 price target (down previously from $11.00) on shares of CION Investment in a research note on Monday, March 17th.

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.