CION Investment (NYSE:CION) Trading Down 0.2% – Time to Sell?

CION Investment Corporation (NYSE:CION)’s stock price dropped 0.2% during mid-day trading on Tuesday . The stock traded as low as $7.87 and last traded at $8.02. Approximately 653,493 shares were traded during trading, an increase of 30% from the average daily volume of 501,755 shares. The stock had previously closed at $8.04.

Analyst Ratings Changes

CION has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CION Investment in a research report on Monday, December 29th. Zacks Research lowered CION Investment from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Finally, Wall Street Zen raised CION Investment from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 17th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $8.50.

CION Investment Stock Performance

The company has a market capitalization of $417.76 million, a PE ratio of 15.73 and a beta of 1.09. The stock has a 50 day moving average price of $9.11 and a two-hundred day moving average price of $9.58.

CION Investment Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a $0.10 dividend. The ex-dividend date is Friday, March 13th. This represents a c) dividend on an annualized basis and a yield of 15.0%. CION Investment’s payout ratio is 235.29%.

Institutional Investors Weigh In On CION Investment

Several institutional investors and hedge funds have recently modified their holdings of CION. Van ECK Associates Corp increased its position in CION Investment by 4.2% during the third quarter. Van ECK Associates Corp now owns 1,359,023 shares of the company’s stock worth $12,883,000 after buying an additional 54,317 shares during the last quarter. Invesco Ltd. boosted its stake in shares of CION Investment by 33.6% during the 2nd quarter. Invesco Ltd. now owns 1,343,185 shares of the company’s stock worth $12,854,000 after acquiring an additional 338,121 shares in the last quarter. North Ground Capital boosted its stake in shares of CION Investment by 8.4% during the 4th quarter. North Ground Capital now owns 1,086,992 shares of the company’s stock worth $10,511,000 after acquiring an additional 84,214 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of CION Investment by 4.5% during the 4th quarter. Private Advisor Group LLC now owns 740,833 shares of the company’s stock valued at $7,164,000 after acquiring an additional 31,911 shares during the last quarter. Finally, UBS Group AG raised its stake in shares of CION Investment by 4.0% in the 3rd quarter. UBS Group AG now owns 574,045 shares of the company’s stock valued at $5,442,000 after acquiring an additional 22,140 shares in the last quarter. Institutional investors and hedge funds own 32.01% of the company’s stock.

About CION Investment

CION Investment Corporation is a closed‐end, non‐diversified management investment company organized as a business development company under the Investment Company Act of 1940. Externally managed by CION Investment Management, LLC, the firm specializes in providing flexible capital solutions to U.S. and Canadian middle‐market companies. By combining debt and equity financing, CION seeks to support growth, acquisitions, recapitalizations and other strategic initiatives for its portfolio companies.

The company’s investment strategy centers on senior secured loans, subordinated debt and private equity interests.