Hennion & Walsh Asset Management Inc. Has $5.26 Million Stock Position in CION Investment Co. (NYSE:CION)

Hennion & Walsh Asset Management Inc. increased its stake in CION Investment Co. (NYSE:CION) by 26.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 442,046 shares of the company’s stock after acquiring an additional 91,221 shares during the quarter. Hennion & Walsh Asset Management Inc. owned about 0.82% of CION Investment worth $5,260,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new stake in CION Investment in the first quarter worth approximately $37,000. Diversify Advisory Services LLC bought a new stake in shares of CION Investment during the first quarter valued at approximately $145,000. First Heartland Consultants Inc. bought a new stake in shares of CION Investment during the second quarter valued at approximately $145,000. Catalina Capital Group LLC bought a new stake in shares of CION Investment during the first quarter valued at approximately $156,000. Finally, Fullcircle Wealth LLC bought a new stake in shares of CION Investment during the second quarter valued at approximately $156,000. 32.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer initiated coverage on CION Investment in a report on Tuesday, October 8th. They set a “market perform” rating and a $13.00 price objective for the company.

CION Investment Stock Down 0.7 %

NYSE CION opened at $11.94 on Thursday. The company has a market cap of $639.58 million, a price-to-earnings ratio of 4.89 and a beta of 1.18. CION Investment Co. has a 52 week low of $9.65 and a 52 week high of $12.69. The business has a 50 day moving average price of $11.95 and a 200-day moving average price of $11.98.

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

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 dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.44 annualized dividend and a yield of 12.07%. CION Investment’s dividend payout ratio (DPR) is currently 59.02%.

CION Investment 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.