Pinkerton Wealth LLC Trims Stake in CION Investment Corporation $CION

Pinkerton Wealth LLC trimmed its stake in CION Investment Corporation (NYSE:CION) by 38.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 228,636 shares of the company’s stock after selling 140,708 shares during the period. Pinkerton Wealth LLC’s holdings in CION Investment were worth $2,211,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BNP Paribas Financial Markets purchased a new stake in shares of CION Investment in the 3rd quarter worth $37,000. Geneos Wealth Management Inc. increased its stake in shares of CION Investment by 21.7% in the 2nd quarter. Geneos Wealth Management Inc. now owns 8,802 shares of the company’s stock worth $84,000 after purchasing an additional 1,571 shares in the last quarter. Arete Wealth Advisors LLC purchased a new stake in shares of CION Investment in the 3rd quarter worth $95,000. Diversify Advisory Services LLC purchased a new stake in shares of CION Investment in the 4th quarter worth $95,000. Finally, Aquatic Capital Management LLC increased its stake in shares of CION Investment by 165.0% in the 3rd quarter. Aquatic Capital Management LLC now owns 10,354 shares of the company’s stock worth $98,000 after purchasing an additional 6,447 shares in the last quarter. 32.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Weiss Ratings lowered CION Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 27th. Wall Street Zen lowered CION Investment from a “strong-buy” rating to a “hold” rating in a research note on Saturday, March 14th. Zacks Research raised shares of CION Investment from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Finally, Wells Fargo & Company dropped their target price on shares of CION Investment from $7.00 to $6.50 and set an “underweight” rating for the company in a report on Monday, May 11th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, CION Investment currently has a consensus rating of “Sell” and a consensus price target of $6.50.

CION Investment Stock Performance

Shares of CION Investment stock opened at $6.69 on Thursday. The company has a market capitalization of $332.84 million, a P/E ratio of -167.08 and a beta of 1.16. The company has a fifty day moving average of $7.12 and a 200 day moving average of $8.57. CION Investment Corporation has a fifty-two week low of $6.50 and a fifty-two week high of $10.93.

CION Investment (NYSE:CION) last issued its earnings results on Thursday, May 7th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.02). The firm had revenue of $49.54 million during the quarter, compared to the consensus estimate of $49.12 million. CION Investment had a positive return on equity of 11.96% and a negative net margin of 0.41%. Analysts forecast that CION Investment Corporation will post 1.05 EPS for the current year.

CION Investment Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a c) annualized dividend and a yield of 18.0%. CION Investment’s dividend payout ratio is currently -3,000.00%.

CION Investment Company Profile

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.