Oppenheimer Begins Coverage on CION Investment (NYSE:CION)

Oppenheimer started coverage on shares of CION Investment (NYSE:CION) in a research report report published on Tuesday morning, Benzinga reports. The firm issued a market perform rating and a $13.00 target price on the stock.

CION Investment Trading Up 0.7 %

CION Investment stock opened at $11.86 on Tuesday. The firm has a 50 day simple moving average of $11.91 and a 200 day simple moving average of $11.91. CION Investment has a 1-year low of $9.65 and a 1-year high of $12.69. The firm has a market capitalization of $633.92 million, a price-to-earnings ratio of 5.05 and a beta of 1.18.

CION Investment (NYSE:CION) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter. The firm had revenue of $61.36 million for the quarter. CION Investment had a net margin of 48.50% and a return on equity of 12.39%. On average, equities research analysts forecast that CION Investment will post 1.77 EPS for the current year.

CION Investment Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $0.36 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.44 annualized dividend and a yield of 12.14%. CION Investment’s dividend payout ratio (DPR) is presently 61.28%.

Institutional Trading of CION Investment

Several hedge funds and other institutional investors have recently bought and sold shares of CION. Hennion & Walsh Asset Management Inc. grew its stake in shares of CION Investment by 42.0% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 295,387 shares of the company’s stock valued at $3,249,000 after buying an additional 87,382 shares during the last quarter. Van ECK Associates Corp grew its position in CION Investment by 7.6% during the 1st quarter. Van ECK Associates Corp now owns 1,069,799 shares of the company’s stock worth $11,768,000 after acquiring an additional 75,859 shares during the last quarter. Acadian Asset Management LLC increased its stake in CION Investment by 32.5% in the 2nd quarter. Acadian Asset Management LLC now owns 695,609 shares of the company’s stock worth $8,427,000 after purchasing an additional 170,635 shares during the period. Cetera Investment Advisers lifted its position in CION Investment by 2,340.1% in the first quarter. Cetera Investment Advisers now owns 524,131 shares of the company’s stock valued at $5,765,000 after purchasing an additional 502,651 shares during the last quarter. Finally, Diversify Wealth Management LLC bought a new stake in CION Investment in the second quarter valued at approximately $2,250,000. Hedge funds and other institutional investors own 32.01% of the company’s stock.

CION Investment Company Profile

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.