Hopwood Nicholas Hunter Invests $444,000 in CION Investment Corporation $CION

Hopwood Nicholas Hunter purchased a new stake in shares of CION Investment Corporation (NYSE:CION) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 71,233 shares of the company’s stock, valued at approximately $444,000. Hopwood Nicholas Hunter owned approximately 0.14% of CION Investment at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CION. Van ECK Associates Corp raised its holdings in CION Investment by 27.7% during the second quarter. Van ECK Associates Corp now owns 1,236,397 shares of the company’s stock valued at $7,703,000 after buying an additional 268,242 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of CION Investment during the 2nd quarter worth about $67,000. Punch & Associates Investment Management Inc. acquired a new position in shares of CION Investment during the 2nd quarter valued at about $118,000. Bank of America Corp DE bought a new position in shares of CION Investment in the 2nd quarter valued at approximately $1,059,000. Finally, True Freedom Investing LLC bought a new position in shares of CION Investment in the 2nd quarter valued at approximately $979,000. 32.01% of the stock is currently owned by institutional investors.

CION Investment Trading Up 0.3%

Shares of CION stock opened at $7.38 on Friday. The firm has a market capitalization of $363.10 million, a P/E ratio of 123.00 and a beta of 1.14. CION Investment Corporation has a 1 year low of $5.83 and a 1 year high of $10.40. The firm’s fifty day simple moving average is $6.75 and its 200 day simple moving average is $7.04.

CION Investment (NYSE:CION) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03. CION Investment had a net margin of 1.17% and a return on equity of 11.95%. The company had revenue of $49.79 million for the quarter, compared to analyst estimates of $49.78 million. Equities research analysts anticipate that CION Investment Corporation will post 1.08 EPS for the current fiscal year.

CION Investment Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 28th. Stockholders of record on Friday, December 11th will be issued a dividend of $0.10 per share. This represents a c) annualized dividend and a dividend yield of 16.3%. The ex-dividend date of this dividend is Friday, December 11th. CION Investment’s dividend payout ratio (DPR) is presently 2,000.00%.

Analysts Set New Price Targets

CION has been the subject of a number of recent analyst reports. Weiss Ratings raised CION Investment from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Wells Fargo & Company reduced their price objective on shares of CION Investment from $7.00 to $6.50 and set an “underweight” rating for the company in a research note on Monday, May 11th. Finally, Zacks Research downgraded shares of CION Investment from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $6.50.

CION Investment 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.