GPS Wealth Strategies Group LLC Sells 1,000 Shares of CION Investment Co. (NYSE:CION)

GPS Wealth Strategies Group LLC lessened its holdings in shares of CION Investment Co. (NYSE:CION) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,184 shares of the company’s stock after selling 1,000 shares during the quarter. GPS Wealth Strategies Group LLC’s holdings in CION Investment were worth $230,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC raised its stake in CION Investment by 1,090.0% in the third quarter. International Assets Investment Management LLC now owns 871,080 shares of the company’s stock valued at $103,660,000 after purchasing an additional 797,880 shares in the last quarter. Strong Tower Advisory Services increased its holdings in shares of CION Investment by 1,469.2% in the 3rd quarter. Strong Tower Advisory Services now owns 196,199 shares of the company’s stock worth $2,335,000 after buying an additional 183,696 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of CION Investment by 26.0% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 442,046 shares of the company’s stock valued at $5,260,000 after buying an additional 91,221 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of CION Investment by 5.7% during the 3rd quarter. Van ECK Associates Corp now owns 1,307,974 shares of the company’s stock worth $15,617,000 after acquiring an additional 70,608 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in CION Investment by 13.6% in the third quarter. Franklin Resources Inc. now owns 358,956 shares of the company’s stock worth $4,261,000 after acquiring an additional 43,076 shares in the last quarter. Hedge funds and other institutional investors own 32.01% of the company’s stock.

Analyst Upgrades and Downgrades

CION has been the topic of a number of research reports. Wells Fargo & Company lowered their price target on CION Investment from $12.00 to $11.50 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Oppenheimer began coverage on CION Investment in a report on Tuesday, October 8th. They set a “market perform” rating and a $13.00 price objective on the stock.

CION Investment Stock Performance

Shares of CION Investment stock opened at $11.74 on Monday. CION Investment Co. has a 52-week low of $10.52 and a 52-week high of $12.69. The company has a fifty day moving average of $11.48 and a 200-day moving average of $11.75. The stock has a market capitalization of $625.62 million, a price-to-earnings ratio of 7.99 and a beta of 1.13.

CION Investment (NYSE:CION) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. The business had revenue of $59.63 million during the quarter, compared to analyst estimates of $57.75 million. CION Investment had a net margin of 31.21% and a return on equity of 11.49%. During the same period in the prior year, the business posted $0.55 earnings per share. On average, equities research analysts forecast that CION Investment Co. will post 1.78 earnings per share for the current fiscal year.

CION Investment Announces Dividend

The business also recently declared an annual dividend, which was paid on Monday, January 27th. Shareholders of record on Monday, December 30th were paid a $0.05 dividend. The ex-dividend date was Monday, December 30th. This represents a yield of 0.43%. CION Investment’s dividend payout ratio (DPR) is currently 97.96%.

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.