Cubist Systematic Strategies LLC Lowers Stock Position in CION Investment Co. (NYSE:CION)

Cubist Systematic Strategies LLC lessened its holdings in CION Investment Co. (NYSE:CION) by 61.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 35,335 shares of the company’s stock after selling 55,650 shares during the period. Cubist Systematic Strategies LLC owned about 0.07% of CION Investment worth $428,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of CION. Lazard Asset Management LLC purchased a new stake in shares of CION Investment in the 1st quarter worth approximately $37,000. Creekmur Asset Management LLC purchased a new stake in shares of CION Investment in the 4th quarter worth approximately $42,000. Diversify Advisory Services LLC bought a new position in shares of CION Investment during the 1st quarter worth approximately $145,000. First Heartland Consultants Inc. bought a new position in shares of CION Investment during the 2nd quarter worth approximately $145,000. Finally, Catalina Capital Group LLC bought a new position in shares of CION Investment during the 1st quarter worth approximately $156,000. Hedge funds and other institutional investors own 32.01% of the company’s stock.

Analyst Ratings Changes

Separately, Oppenheimer initiated coverage on shares of CION Investment in a research note on Tuesday, October 8th. They set a “market perform” rating and a $13.00 price objective for the company.

CION Investment Stock Up 0.8 %

NYSE CION opened at $11.88 on Monday. CION Investment Co. has a 52 week low of $9.65 and a 52 week high of $12.69. The firm has a market cap of $634.99 million, a PE ratio of 5.06 and a beta of 1.18. The company has a 50 day moving average price of $11.91 and a 200 day moving average price of $11.93.

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

CION Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 12.12%. CION Investment’s payout ratio is currently 61.28%.

About CION Investment

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.