Arkadios Wealth Advisors Sells 14,513 Shares of CION Investment Co. (NYSE:CION)

Arkadios Wealth Advisors reduced its stake in CION Investment Co. (NYSE:CION) by 4.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 286,689 shares of the company’s stock after selling 14,513 shares during the period. Arkadios Wealth Advisors owned 0.53% of CION Investment worth $3,412,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. International Assets Investment Management LLC lifted its holdings in shares of CION Investment by 1,090.0% during the 3rd 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. Private Advisor Group LLC boosted its stake in CION Investment by 674.1% in the 2nd quarter. Private Advisor Group LLC now owns 617,444 shares of the company’s stock worth $7,483,000 after purchasing an additional 537,681 shares during the period. Cetera Investment Advisers grew its holdings in shares of CION Investment by 2,340.1% during the first quarter. Cetera Investment Advisers now owns 524,131 shares of the company’s stock worth $5,765,000 after buying an additional 502,651 shares in the last quarter. Alpine Global Management LLC raised its holdings in 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 acquiring an additional 373,297 shares in the last quarter. Finally, Diversify Wealth Management LLC acquired a new stake in shares of CION Investment in the second quarter valued at approximately $2,250,000. 32.01% of the stock is owned by institutional investors and hedge funds.

CION Investment Stock Performance

Shares of NYSE:CION traded down $0.12 during midday trading on Friday, hitting $11.90. 166,113 shares of the stock were exchanged, compared to its average volume of 228,432. CION Investment Co. has a 12 month low of $9.65 and a 12 month high of $12.69. The stock has a market capitalization of $637.71 million, a price-to-earnings ratio of 4.88 and a beta of 1.18. The business’s 50-day moving average price is $11.94 and its 200 day moving average price is $11.98.

CION Investment (NYSE:CION) last issued 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 during the quarter. CION Investment had a return on equity of 12.39% and a net margin of 48.50%. As a group, sell-side analysts expect that CION Investment Co. will post 1.77 EPS for the current year.

CION Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.36 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.44 annualized dividend and a dividend yield of 12.10%. CION Investment’s dividend payout ratio is currently 59.02%.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer started coverage on CION Investment in a report on Tuesday, October 8th. They set a “market perform” rating and a $13.00 price target for the company.

CION Investment 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.