CION Investment Corporation $CION Holdings Cut by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. lowered its stake in shares of CION Investment Corporation (NYSE:CION) by 19.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 414,620 shares of the company’s stock after selling 101,156 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in CION Investment were worth $4,009,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CION. North Ground Capital increased its stake in shares of CION Investment by 100.6% during the third quarter. North Ground Capital now owns 1,002,778 shares of the company’s stock valued at $9,506,000 after acquiring an additional 502,778 shares during the period. Golden State Wealth Management LLC lifted its position in CION Investment by 7.2% in the third quarter. Golden State Wealth Management LLC now owns 20,219 shares of the company’s stock worth $192,000 after purchasing an additional 1,363 shares during the period. International Assets Investment Management LLC lifted its position in CION Investment by 76.6% in the third quarter. International Assets Investment Management LLC now owns 114,799 shares of the company’s stock worth $1,100,000 after purchasing an additional 49,803 shares during the period. Arkadios Wealth Advisors boosted its stake in CION Investment by 2.3% during the 3rd quarter. Arkadios Wealth Advisors now owns 337,100 shares of the company’s stock valued at $3,196,000 after purchasing an additional 7,721 shares in the last quarter. Finally, CWM LLC boosted its stake in CION Investment by 34.7% during the 3rd quarter. CWM LLC now owns 10,343 shares of the company’s stock valued at $98,000 after purchasing an additional 2,664 shares in the last quarter. 32.01% of the stock is currently owned by institutional investors.

CION Investment Stock Up 1.6%

Shares of NYSE:CION opened at $6.81 on Tuesday. The firm has a fifty day moving average of $8.18 and a two-hundred day moving average of $9.14. CION Investment Corporation has a 12-month low of $6.50 and a 12-month high of $10.93. The firm has a market capitalization of $343.65 million, a P/E ratio of -17.45 and a beta of 1.09.

CION Investment (NYSE:CION) last announced its quarterly earnings results on Thursday, March 12th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.04). The firm had revenue of $53.79 million during the quarter, compared to the consensus estimate of $51.77 million. CION Investment had a negative net margin of 8.57% and a positive return on equity of 12.42%. Equities research analysts expect that CION Investment Corporation will post 1.78 earnings per share for the current fiscal year.

CION Investment Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be issued a $0.10 dividend. This represents a c) annualized dividend and a yield of 17.6%. The ex-dividend date is Friday, June 12th. CION Investment’s dividend payout ratio (DPR) is -307.69%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CION. Wells Fargo & Company lowered their target price on CION Investment from $8.50 to $7.00 and set an “underweight” rating on the stock in a report on Friday, March 13th. Weiss Ratings downgraded shares of CION Investment from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. Zacks Research cut shares of CION Investment from a “hold” rating to a “strong sell” rating in a research note on Monday, March 16th. Finally, Wall Street Zen downgraded shares of CION Investment from a “strong-buy” rating to a “hold” rating in a report on Saturday, March 14th. Three research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Strong Sell” and an average target price of $7.00.

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.