Kingswood Wealth Advisors LLC Makes New Investment in CION Investment Co. (NYSE:CION)

Kingswood Wealth Advisors LLC acquired a new position in shares of CION Investment Co. (NYSE:CION) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 29,198 shares of the company’s stock, valued at approximately $333,000. Kingswood Wealth Advisors LLC owned approximately 0.05% of CION Investment at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Quantbot Technologies LP purchased a new stake in shares of CION Investment during the third quarter worth $104,000. Focused Wealth Management Inc purchased a new stake in CION Investment during the 3rd quarter valued at about $120,000. Legacy Investment Solutions LLC acquired a new stake in CION Investment in the 3rd quarter valued at about $124,000. Virtu Financial LLC purchased a new position in CION Investment in the 3rd quarter worth approximately $127,000. Finally, Jane Street Group LLC acquired a new position in shares of CION Investment during the 3rd quarter worth approximately $161,000. Institutional investors and hedge funds own 32.01% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Oppenheimer started coverage on CION Investment in a report on Tuesday, October 8th. They issued a “market perform” rating and a $13.00 target price for the company. Wells Fargo & Company reduced their target price 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.

CION Investment Stock Performance

CION Investment stock opened at $11.74 on Friday. The company has a market capitalization of $625.58 million, a price-to-earnings ratio of 7.99 and a beta of 1.13. The company’s 50 day simple moving average is $11.48 and its 200-day simple moving average is $11.76. CION Investment Co. has a 1 year low of $10.52 and a 1 year high of $12.69.

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

CION Investment Dividend Announcement

The company also recently announced an annual dividend, which was paid on Monday, January 27th. Investors of record on Monday, December 30th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a dividend yield of 0.43%. CION Investment’s payout ratio is 97.96%.

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.