CION Investment (NYSE:CION) Reports Results

CION Investment (NYSE:CION- Get a rating) released its results on Thursday. The company reported earnings per share (EPS) of $0.34 for the quarter, beating consensus analyst estimates of $0.33 by $0.01, MarketWatch Earnings reports. CION Investment posted a net margin of 75.48% and a return on equity of 7.94%.

CION Investment stock traded down $0.06 at midday on Friday, hitting $10.36. 238,714 shares of the stock have been traded, compared to its average volume of 135,725. The company has a fifty-day moving average price of $12.61 and a two-hundred-day moving average price of 12.76 $. The company has a market capitalization of $1.18 billion and a price-earnings ratio of 7.35. CION Investment has a fifty-two week low of $9.95 and a fifty-two week high of $15.09.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 8. Investors of record on Wednesday, June 1 will receive a dividend of $0.28 per share. This represents a dividend of $1.12 on an annualized basis and a dividend yield of 10.81%. The ex-dividend date is Tuesday, May 31. This is an increase from CION Investment’s previous quarterly dividend of $0.26. CION Investment’s dividend payout ratio is currently 79.43%.

Separately, Wells Fargo & Company lowered its price target on CION Investment shares from $12.50 to $11.50 and set an “equal weight” rating for the company in a Monday 25 research note. april.

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Major investors have recently changed their stake in the company. Raymond James Financial Services Advisors Inc. increased its stake in CION Investment by 6.1% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 26,571 shares of the company valued at $393,000 after buying 1,536 additional shares in the last quarter. Alliancebernstein LP acquired a new equity stake from CION Investment during the fourth quarter valued at approximately $132,000. Renaissance Technologies LLC acquired a new equity stake from CION Investment during the first quarter valued at approximately $170,000. Belpointe Asset Management LLC acquired a new equity stake from CION Investment during the fourth quarter valued at approximately $157,000. Finally, Schonfeld Strategic Advisors LLC acquired a new equity stake in CION Investment during the fourth quarter valued at approximately $174,000. 3.48% of the stock is held by institutional investors.

About CION Investment (Get a rating)

CION Investment Corporation is a business development company. It specializes in investments in senior secured loans, including unitranche loans, first lien loans, 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.

Further reading

Earnings History for CION Investment (NYSE:CION)

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