CION Investment (NYSE:CION) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of CION Investment (NYSE:CION) from a buy rating to a strong-buy rating in a research report report published on Saturday morning.

Several other equities research analysts have also commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of CION Investment in a report on Monday, December 29th. Zacks Research cut shares of CION Investment from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, CION Investment presently has an average rating of “Reduce” and a consensus price target of $8.50.

CION Investment Trading Down 1.9%

NYSE CION opened at $9.47 on Friday. The stock has a market capitalization of $493.29 million, a price-to-earnings ratio of 18.57 and a beta of 1.07. The stock has a 50-day moving average of $9.80 and a 200 day moving average of $9.85. CION Investment has a twelve month low of $8.51 and a twelve month high of $12.71.

CION Investment (NYSE:CION) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.39. The business had revenue of $78.71 million during the quarter, compared to analysts’ expectations of $52.41 million. CION Investment had a return on equity of 12.02% and a net margin of 10.59%. Equities analysts predict that CION Investment will post 1.78 EPS for the current fiscal year.

CION Investment Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a c) dividend on an annualized basis and a dividend yield of 12.7%. CION Investment’s dividend payout ratio is presently 282.35%.

Hedge Funds Weigh In On CION Investment

Several hedge funds and other institutional investors have recently modified their holdings of the business. SeaCrest Wealth Management LLC lifted its stake in CION Investment by 14.0% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 29,102 shares of the company’s stock worth $279,000 after purchasing an additional 3,564 shares in the last quarter. Beacon Capital Management LLC grew its position in shares of CION Investment by 7.7% in the second quarter. Beacon Capital Management LLC now owns 33,404 shares of the company’s stock valued at $320,000 after purchasing an additional 2,374 shares in the last quarter. Symmetry Partners LLC increased its holdings in shares of CION Investment by 117.6% in the second quarter. Symmetry Partners LLC now owns 40,376 shares of the company’s stock valued at $386,000 after purchasing an additional 21,817 shares during the last quarter. Berger Financial Group Inc lifted its position in CION Investment by 27.6% during the second quarter. Berger Financial Group Inc now owns 487,404 shares of the company’s stock worth $4,664,000 after buying an additional 105,478 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC boosted its stake in CION Investment by 40.8% during the second quarter. Wealthcare Advisory Partners LLC now owns 28,979 shares of the company’s stock worth $277,000 after buying an additional 8,402 shares during the last quarter. 32.01% of the stock is owned by hedge funds and other institutional investors.

About CION Investment

CION Investment Corporation is a closed‐end, non‐diversified management investment company organized as a business development company under the Investment Company Act of 1940. Externally managed by CION Investment Management, LLC, the firm specializes in providing flexible capital solutions to U.S. and Canadian middle‐market companies. By combining debt and equity financing, CION seeks to support growth, acquisitions, recapitalizations and other strategic initiatives for its portfolio companies.

The company’s investment strategy centers on senior secured loans, subordinated debt and private equity interests.