Koshinski Asset Management Inc. Has $406,000 Stock Holdings in CION Investment Co. (NYSE:CION)

Koshinski Asset Management Inc. lowered its holdings in CION Investment Co. (NYSE:CION) by 7.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,136 shares of the company’s stock after selling 2,773 shares during the quarter. Koshinski Asset Management Inc.’s holdings in CION Investment were worth $406,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new position in CION Investment in the 1st quarter valued at approximately $37,000. First Heartland Consultants Inc. acquired a new position in shares of CION Investment in the second quarter valued at $145,000. Fullcircle Wealth LLC bought a new position in CION Investment in the second quarter worth $156,000. Diversify Advisory Services LLC acquired a new stake in CION Investment during the first quarter worth $145,000. Finally, Marshall Wace LLP bought a new stake in CION Investment in the 2nd quarter valued at $164,000. 32.01% of the stock is owned by institutional investors.

CION Investment Trading Up 0.5 %

Shares of CION opened at $11.93 on Wednesday. The stock has a market cap of $639.32 million, a PE ratio of 4.89 and a beta of 1.18. CION Investment Co. has a 1 year low of $9.65 and a 1 year high of $12.69. The stock has a 50 day simple moving average of $11.93 and a 200-day simple moving average of $11.94.

CION Investment (NYSE:CION) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter. CION Investment had a return on equity of 12.39% and a net margin of 48.50%. The firm had revenue of $61.36 million during the quarter. On average, sell-side analysts forecast that CION Investment Co. will post 1.77 EPS for the current fiscal year.

CION Investment Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 12.07%. The ex-dividend date was Tuesday, September 3rd. CION Investment’s dividend payout ratio is currently 59.02%.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer initiated coverage on shares of CION Investment in a report on Tuesday, October 8th. They set a “market perform” rating and a $13.00 price objective 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.