International Assets Investment Management LLC Sells 1,977 Shares of CION Investment Corporation $CION

International Assets Investment Management LLC lowered its position in shares of CION Investment Corporation (NYSE:CION) by 3.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,996 shares of the company’s stock after selling 1,977 shares during the quarter. International Assets Investment Management LLC’s holdings in CION Investment were worth $622,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Strategic Blueprint LLC boosted its position in shares of CION Investment by 141.4% during the 1st 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 boosted its position in shares of CION Investment by 18.9% during the 1st 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. bought a new position in shares of CION Investment during the 1st quarter worth about $1,007,000. Private Advisor Group LLC lifted its position in CION Investment by 10.7% in the 1st quarter. Private Advisor Group LLC now owns 739,356 shares of the company’s stock valued at $7,652,000 after acquiring an additional 71,434 shares in the last quarter. Finally, HighTower Advisors LLC lifted its position in CION Investment by 72.1% in the 1st quarter. HighTower Advisors LLC now owns 39,500 shares of the company’s stock valued at $409,000 after acquiring an additional 16,544 shares in the last quarter. Institutional investors own 32.01% of the company’s stock.

Analysts Set New Price Targets

CION has been the subject of several analyst reports. Wells Fargo & Company reiterated an “underweight” rating and issued a $8.50 price objective (down previously from $9.00) on shares of CION Investment in a research note on Tuesday, August 12th. Weiss Ratings restated a “hold (c-)” rating on shares of CION Investment in a research note on Wednesday, October 8th. Zacks Research lowered shares of CION Investment from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Finally, Wall Street Zen upgraded shares of CION Investment from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, CION Investment has a consensus rating of “Reduce” and an average target price of $8.50.

CION Investment Trading Up 1.7%

CION opened at $9.47 on Wednesday. The company has a 50 day moving average of $9.96 and a 200 day moving average of $9.74. The company has a market cap of $493.03 million, a PE ratio of -49.81 and a beta of 1.08. CION Investment Corporation has a 12 month low of $8.51 and a 12 month high of $12.71.

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

CION Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were issued a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.44 annualized dividend and a yield of 15.2%. CION Investment’s dividend payout ratio (DPR) is -757.89%.

About CION Investment

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.