CION Investment Corporation $CION Shares Acquired by North Ground Capital

North Ground Capital grew its stake in shares of CION Investment Corporation (NYSE:CION) by 100.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,002,778 shares of the company’s stock after purchasing an additional 502,778 shares during the period. CION Investment comprises approximately 5.9% of North Ground Capital’s portfolio, making the stock its 2nd biggest position. North Ground Capital owned about 1.93% of CION Investment worth $9,506,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Private Wealth Management Group LLC purchased a new position in shares of CION Investment during the third quarter valued at approximately $30,000. Legacy Investment Solutions LLC purchased a new position in CION Investment during the 2nd quarter worth $74,000. Geneos Wealth Management Inc. boosted its holdings in CION Investment by 21.7% during the 2nd quarter. Geneos Wealth Management Inc. now owns 8,802 shares of the company’s stock worth $84,000 after acquiring an additional 1,571 shares during the last quarter. Daymark Wealth Partners LLC bought a new stake in shares of CION Investment in the 2nd quarter worth $98,000. Finally, CWM LLC raised its holdings in shares of CION Investment by 34.7% in the third quarter. CWM LLC now owns 10,343 shares of the company’s stock valued at $98,000 after purchasing an additional 2,664 shares during the last quarter. Institutional investors own 32.01% of the company’s stock.

Analyst Upgrades and Downgrades

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

CION Investment Trading Down 1.9%

Shares of NYSE CION opened at $9.47 on Monday. The stock has a fifty day simple moving average of $9.80 and a two-hundred day simple moving average of $9.85. CION Investment Corporation has a 1-year low of $8.51 and a 1-year high of $12.71. The firm has a market cap of $493.29 million, a price-to-earnings ratio of 18.57 and a beta of 1.07.

CION Investment (NYSE:CION) last issued its earnings results on Thursday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.39. The firm had revenue of $78.71 million for the quarter, compared to analyst estimates of $52.41 million. CION Investment had a return on equity of 12.02% and a net margin of 10.59%. Analysts forecast that CION Investment Corporation will post 1.78 EPS for the current year.

CION Investment Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, March 27th. Stockholders 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) annualized dividend and a dividend yield of 12.7%. CION Investment’s dividend payout ratio (DPR) is presently 282.35%.

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.