CION Investment (NYSE:CION) Research Coverage Started at Oppenheimer

Oppenheimer initiated coverage on shares of CION Investment (NYSE:CION) in a research note released on Tuesday, Benzinga reports. The brokerage issued a market perform rating and a $13.00 price target on the stock.

CION Investment Stock Up 0.3 %

Shares of NYSE CION opened at $11.76 on Tuesday. The firm has a market cap of $630.21 million, a price-to-earnings ratio of 4.82 and a beta of 1.18. The company’s 50-day simple moving average is $11.92 and its 200-day simple moving average is $11.91. CION Investment has a 52-week low of $9.65 and a 52-week high of $12.69.

CION Investment (NYSE:CION) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter. CION Investment had a return on equity of 12.39% and a net margin of 48.50%. The company had revenue of $61.36 million for the quarter.

CION Investment Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.36 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.44 annualized dividend and a dividend yield of 12.24%. CION Investment’s dividend payout ratio is presently 59.02%.

Institutional Investors Weigh In On CION Investment

Hedge funds and other institutional investors have recently bought and sold shares of the company. Kowal Investment Group LLC increased its stake in CION Investment by 3.7% during the first quarter. Kowal Investment Group LLC now owns 27,290 shares of the company’s stock worth $300,000 after acquiring an additional 964 shares during the last quarter. Atomi Financial Group Inc. raised its holdings in CION Investment by 8.6% in the 1st quarter. Atomi Financial Group Inc. now owns 14,761 shares of the company’s stock valued at $162,000 after buying an additional 1,166 shares during the period. Endowment Wealth Management Inc. lifted its position in CION Investment by 2.3% in the second quarter. Endowment Wealth Management Inc. now owns 56,841 shares of the company’s stock valued at $689,000 after buying an additional 1,253 shares during the last quarter. GPS Wealth Strategies Group LLC boosted its stake in CION Investment by 5.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 37,893 shares of the company’s stock worth $459,000 after buying an additional 1,901 shares during the period. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of CION Investment during the first quarter valued at about $27,000. 32.01% of the stock is currently owned by institutional investors and hedge funds.

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.