CION Investment (NYSE:CION) Shares Gap Down – Should You Sell?

CION Investment Co. (NYSE:CION) gapped down before the market opened on Monday . The stock had previously closed at $11.37, but opened at $11.05. CION Investment shares last traded at $11.09, with a volume of 78,433 shares trading hands.

Analyst Ratings Changes

Separately, Wells Fargo & Company restated an “underweight” rating and set a $10.00 price target (down previously from $11.00) on shares of CION Investment in a report on Monday.

CION Investment Trading Down 1.5 %

The firm has a market capitalization of $576.29 million, a P/E ratio of 7.36 and a beta of 1.11. The firm has a 50 day moving average price of $11.77 and a 200-day moving average price of $11.72.

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

CION Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 13.31%. The ex-dividend date of this dividend is Friday, March 28th. CION Investment’s payout ratio is 228.57%.

Institutional Investors Weigh In On CION Investment

A number of institutional investors and hedge funds have recently modified their holdings of the business. Founders Financial Alliance LLC lifted its stake in shares of CION Investment by 5.3% during the 4th quarter. Founders Financial Alliance LLC now owns 21,769 shares of the company’s stock worth $248,000 after acquiring an additional 1,086 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in shares of CION Investment by 2.6% during the 4th quarter. Concurrent Investment Advisors LLC now owns 42,822 shares of the company’s stock worth $488,000 after acquiring an additional 1,093 shares during the last quarter. Coppell Advisory Solutions LLC lifted its stake in shares of CION Investment by 11.1% during the 4th quarter. Coppell Advisory Solutions LLC now owns 10,966 shares of the company’s stock worth $123,000 after acquiring an additional 1,093 shares during the last quarter. Endowment Wealth Management Inc. lifted its stake in shares of CION Investment by 2.6% during the 4th quarter. Endowment Wealth Management Inc. now owns 59,852 shares of the company’s stock worth $682,000 after acquiring an additional 1,522 shares during the last quarter. Finally, Beck Capital Management LLC lifted its stake in shares of CION Investment by 6.5% during the 3rd quarter. Beck Capital Management LLC now owns 29,511 shares of the company’s stock worth $351,000 after acquiring an additional 1,797 shares during the last quarter. 32.01% of the stock is owned by institutional investors.

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.