Wealthcare Advisory Partners LLC Grows Holdings in CION Investment Corporation $CION

Wealthcare Advisory Partners LLC boosted its holdings in CION Investment Corporation (NYSE:CION) by 40.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,979 shares of the company’s stock after purchasing an additional 8,402 shares during the quarter. Wealthcare Advisory Partners LLC owned about 0.05% of CION Investment worth $277,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. TT Capital Management LLC raised its position in CION Investment by 4.4% in the 1st quarter. TT Capital Management LLC now owns 30,998 shares of the company’s stock valued at $321,000 after purchasing an additional 1,300 shares during the last quarter. Golden State Wealth Management LLC raised its position in CION Investment by 18.9% in the 1st quarter. Golden State Wealth Management LLC now owns 10,031 shares of the company’s stock valued at $104,000 after purchasing an additional 1,597 shares during the last quarter. Apollon Wealth Management LLC raised its position in CION Investment by 3.2% in the 1st quarter. Apollon Wealth Management LLC now owns 54,457 shares of the company’s stock valued at $564,000 after purchasing an additional 1,710 shares during the last quarter. Beacon Capital Management LLC raised its position in CION Investment by 7.7% in the 2nd quarter. Beacon Capital Management LLC now owns 33,404 shares of the company’s stock valued at $320,000 after purchasing an additional 2,374 shares during the last quarter. Finally, Quarry LP purchased a new stake in CION Investment in the 1st quarter valued at $27,000. Hedge funds and other institutional investors own 32.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CION shares. Wall Street Zen upgraded shares of CION Investment from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Zacks Research upgraded shares of CION Investment from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 21st. Wells Fargo & Company restated an “underweight” rating and set a $8.50 price objective (down previously from $9.00) on shares of CION Investment in a research report on Tuesday, August 12th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of CION Investment in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $8.50.

CION Investment Price Performance

Shares of NYSE CION opened at $9.13 on Friday. CION Investment Corporation has a 12-month low of $8.51 and a 12-month high of $12.71. The company has a market capitalization of $475.55 million, a PE ratio of -48.05 and a beta of 1.08. The firm’s 50-day moving average is $10.09 and its two-hundred day moving average is $9.79.

CION Investment (NYSE:CION) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). CION Investment had a negative net margin of 4.57% and a positive return on equity of 9.63%. The business had revenue of $52.24 million during the quarter, compared to analysts’ expectations of $53.34 million. On average, analysts forecast that CION Investment Corporation will post 1.78 EPS for the current fiscal year.

CION Investment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 15.8%. The ex-dividend date of this dividend was Tuesday, September 2nd. CION Investment’s dividend payout ratio is -757.89%.

CION Investment Company 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.