CION Investment (NYSE:CION) Posts Quarterly Earnings Results, Misses Expectations By $1.17 EPS

by · The Markets Daily

CION Investment (NYSE:CION – Get Free Report) released its earnings results on Thursday. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($1.17), reports. CION Investment had a return on equity of 12.02% and a net margin of 10.59%.The firm had revenue of $53.79 million during the quarter, compared to the consensus estimate of $51.77 million.

CION Investment Stock Down 6.3%

CION opened at $7.20 on Thursday. The company has a market cap of $374.77 million, a P/E ratio of 14.11 and a beta of 1.09. The firm’s 50-day moving average price is $8.90 and its 200-day moving average price is $9.47. CION Investment has a 52-week low of $7.10 and a 52-week high of $12.19.

CION Investment Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a dividend of $0.10 per share. This represents a c) annualized dividend and a dividend yield of 16.7%. The ex-dividend date is Friday, March 13th. CION Investment’s dividend payout ratio is currently 235.29%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CION Investment in a research report on Monday, December 29th. Zacks Research downgraded CION Investment from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Finally, Wall Street Zen upgraded CION Investment from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 17th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $8.50.

View Our Latest Research Report on CION Investment

Institutional Trading of CION Investment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CION. BNP Paribas Financial Markets purchased a new stake in shares of CION Investment in the 3rd quarter valued at $37,000. Geneos Wealth Management Inc. raised its holdings in shares of CION Investment by 21.7% during the second quarter. Geneos Wealth Management Inc. now owns 8,802 shares of the company’s stock worth $84,000 after purchasing an additional 1,571 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in CION Investment by 183.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 8,872 shares of the company’s stock valued at $86,000 after purchasing an additional 5,739 shares during the period. Aquatic Capital Management LLC boosted its holdings in CION Investment by 165.0% in the third quarter. Aquatic Capital Management LLC now owns 10,354 shares of the company’s stock valued at $98,000 after purchasing an additional 6,447 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. purchased a new stake in CION Investment in the fourth quarter valued at $101,000. Institutional investors and hedge funds own 32.01% of the company’s stock.

CION Investment Company Profile

(Get Free Report)

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.

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