CION Investment (NYSE:CION) Price Target Lowered to $11.50 at Wells Fargo & Company

CION Investment (NYSE:CION) had its price target cut by Wells Fargo & Company from $12.00 to $11.50 in a report issued on Tuesday, Benzinga reports. They currently have an equal weight rating on the stock.

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

CION Investment Trading Down 1.7 %

Shares of NYSE:CION opened at $11.77 on Tuesday. CION Investment has a 12-month low of $9.77 and a 12-month high of $12.69. The company has a market capitalization of $630.74 million, a PE ratio of 4.82 and a beta of 1.18. The business has a 50 day moving average of $11.92 and a two-hundred day moving average of $12.01.

CION Investment (NYSE:CION) last announced its quarterly earnings results 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 company had revenue of $61.36 million during the quarter. Equities research analysts predict that CION Investment will post 1.77 earnings per share for the current fiscal year.

CION Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 12.23%. The ex-dividend date was Tuesday, September 3rd. CION Investment’s dividend payout ratio (DPR) is presently 59.02%.

Institutional Trading of CION Investment

A number of institutional investors and hedge funds have recently made changes to their positions in CION. Commonwealth Equity Services LLC increased its position in shares of CION Investment by 20.1% in the first quarter. Commonwealth Equity Services LLC now owns 326,469 shares of the company’s stock valued at $3,591,000 after buying an additional 54,550 shares in the last quarter. Van ECK Associates Corp increased its position in shares of CION Investment by 7.6% during the first quarter. Van ECK Associates Corp now owns 1,069,799 shares of the company’s stock worth $11,768,000 after purchasing an additional 75,859 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of CION Investment during the first quarter worth approximately $145,000. Catalina Capital Group LLC purchased a new stake in shares of CION Investment during the first quarter worth approximately $156,000. Finally, WealthPLAN Partners LLC increased its position in shares of CION Investment by 2.9% during the first quarter. WealthPLAN Partners LLC now owns 528,464 shares of the company’s stock worth $5,813,000 after purchasing an additional 14,660 shares in the last quarter. 32.01% of the stock is currently owned by hedge funds and other institutional investors.

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.