International Assets Investment Management LLC Raises Stock Holdings in CION Investment Co. (NYSE:CION)

International Assets Investment Management LLC grew its holdings in CION Investment Co. (NYSE:CION) by 1,090.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 871,080 shares of the company’s stock after buying an additional 797,880 shares during the quarter. International Assets Investment Management LLC’s holdings in CION Investment were worth $103,660,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CION. Van ECK Associates Corp grew its stake in CION Investment by 15.7% in the 2nd quarter. Van ECK Associates Corp now owns 1,237,366 shares of the company’s stock valued at $14,996,000 after acquiring an additional 167,567 shares during the period. Acadian Asset Management LLC raised its position in CION Investment by 32.5% during the second quarter. Acadian Asset Management LLC now owns 695,609 shares of the company’s stock worth $8,427,000 after acquiring an additional 170,635 shares during the period. Private Advisor Group LLC lifted its holdings in CION Investment by 5.5% during the third quarter. Private Advisor Group LLC now owns 651,505 shares of the company’s stock valued at $7,753,000 after purchasing an additional 34,061 shares in the last quarter. Alpine Global Management LLC increased its stake in shares of CION Investment by 143.6% during the first quarter. Alpine Global Management LLC now owns 633,297 shares of the company’s stock worth $6,966,000 after purchasing an additional 373,297 shares in the last quarter. Finally, WealthPLAN Partners LLC raised its position in shares of CION Investment by 2.9% during the 1st quarter. WealthPLAN Partners LLC now owns 528,464 shares of the company’s stock worth $5,813,000 after purchasing an additional 14,660 shares during the last quarter. 32.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Oppenheimer initiated coverage on CION Investment in a report on Tuesday, October 8th. They issued a “market perform” rating and a $13.00 price objective on the stock.

CION Investment Stock Performance

Shares of CION stock opened at $11.90 on Friday. CION Investment Co. has a fifty-two week low of $9.65 and a fifty-two week high of $12.69. The firm has a market capitalization of $637.71 million, a P/E ratio of 4.88 and a beta of 1.18. The stock’s fifty day moving average is $11.94 and its two-hundred day moving average is $11.98.

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

CION Investment Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.36 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 12.10%. CION Investment’s dividend payout ratio (DPR) is presently 59.02%.

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.