CION Investment Corporation $CION Position Reduced by Koshinski Asset Management Inc.

Koshinski Asset Management Inc. cut its position in shares of CION Investment Corporation (NYSE:CION) by 3.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,788 shares of the company’s stock after selling 1,348 shares during the quarter. Koshinski Asset Management Inc. owned 0.06% of CION Investment worth $314,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CION. Strategic Blueprint LLC lifted its position in shares of CION Investment by 141.4% in the first quarter. Strategic Blueprint LLC now owns 51,604 shares of the company’s stock worth $534,000 after purchasing an additional 30,227 shares in the last quarter. Golden State Wealth Management LLC lifted its position in shares of CION Investment by 18.9% in the first quarter. Golden State Wealth Management LLC now owns 10,031 shares of the company’s stock worth $104,000 after purchasing an additional 1,597 shares in the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in shares of CION Investment in the first quarter worth approximately $1,007,000. Private Advisor Group LLC lifted its position in shares of CION Investment by 10.7% in the first quarter. Private Advisor Group LLC now owns 739,356 shares of the company’s stock worth $7,652,000 after purchasing an additional 71,434 shares in the last quarter. Finally, HighTower Advisors LLC lifted its position in shares of CION Investment by 72.1% in the first quarter. HighTower Advisors LLC now owns 39,500 shares of the company’s stock worth $409,000 after purchasing an additional 16,544 shares in the last quarter. 32.01% of the stock is owned by hedge funds and other institutional investors.

CION Investment Stock Performance

NYSE:CION opened at $9.30 on Tuesday. The stock’s 50 day moving average price is $9.98 and its 200 day moving average price is $9.74. CION Investment Corporation has a 52 week low of $8.51 and a 52 week high of $12.71. The company has a market capitalization of $484.44 million, a P/E ratio of -48.94 and a beta of 1.08.

CION Investment (NYSE:CION) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.32 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 company had revenue of $52.24 million for the quarter, compared to analyst estimates of $53.34 million. As a group, sell-side analysts forecast that CION Investment Corporation will post 1.78 earnings per share for the current fiscal year.

CION Investment Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 15.5%. The ex-dividend date was Tuesday, September 2nd. CION Investment’s dividend payout ratio (DPR) is -757.89%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CION. Wells Fargo & Company reissued an “underweight” rating and issued a $8.50 price target (down from $9.00) on shares of CION Investment in a research report on Tuesday, August 12th. Wall Street Zen upgraded CION Investment from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings restated a “hold (c-)” rating on shares of CION Investment in a report on Wednesday, October 8th. Finally, Zacks Research downgraded CION Investment from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, CION Investment has an average rating of “Reduce” and an average price target of $8.50.

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.