Pinkerton Wealth LLC Trims Holdings in CION Investment Corporation $CION

Pinkerton Wealth LLC lessened its holdings in shares of CION Investment Corporation (NYSE:CION) by 38.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 228,636 shares of the company’s stock after selling 140,708 shares during the period. Pinkerton Wealth LLC owned about 0.44% of CION Investment worth $2,211,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new position in CION Investment during the 3rd quarter valued at about $37,000. Bensler LLC purchased a new position in CION Investment during the 4th quarter valued at about $115,000. Diversify Wealth Management LLC boosted its position in CION Investment by 8.2% during the 4th quarter. Diversify Wealth Management LLC now owns 133,315 shares of the company’s stock valued at $1,254,000 after acquiring an additional 10,121 shares in the last quarter. Sigma Planning Corp boosted its position in CION Investment by 1.1% during the 4th quarter. Sigma Planning Corp now owns 280,046 shares of the company’s stock valued at $2,708,000 after acquiring an additional 3,005 shares in the last quarter. Finally, Diversify Advisory Services LLC bought a new stake in CION Investment during the 4th quarter valued at approximately $95,000. Hedge funds and other institutional investors own 32.01% of the company’s stock.

Wall Street Analysts Forecast Growth

CION has been the topic of several research reports. Zacks Research raised CION Investment from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Weiss Ratings cut CION Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 27th. Wells Fargo & Company lowered their price objective on CION Investment from $7.00 to $6.50 and set an “underweight” rating on the stock in a research report on Monday, May 11th. Finally, Wall Street Zen cut CION Investment from a “strong-buy” rating to a “hold” rating in a research report on Saturday, March 14th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, CION Investment currently has a consensus rating of “Sell” and a consensus target price of $6.50.

CION Investment Trading Up 1.3%

Shares of CION opened at $6.69 on Thursday. The firm has a market cap of $332.84 million, a PE ratio of -167.08 and a beta of 1.16. The firm has a fifty day simple moving average of $7.12 and a two-hundred day simple moving average of $8.57. CION Investment Corporation has a 1-year low of $6.50 and a 1-year high of $10.93.

CION Investment (NYSE:CION) last announced its earnings results on Thursday, May 7th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). The company had revenue of $49.54 million for the quarter, compared to analysts’ expectations of $49.12 million. CION Investment had a negative net margin of 0.41% and a positive return on equity of 11.96%. As a group, research analysts forecast that CION Investment Corporation will post 1.05 EPS for the current fiscal year.

CION Investment Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, September 11th. This represents a c) dividend on an annualized basis and a yield of 18.0%. CION Investment’s payout ratio is currently -3,000.00%.

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.