CION Investment Co. Experiences Significant Stake Increase from Strong Tower Advisory Services

Strong Tower Advisory Services has significantly increased its stake in CION Investment Co. (NYSE:CION) by an impressive 1,469.2% during the third quarter, according to a recent filing with the Securities and Exchange Commission (SEC). Following this boost, the fund now holds 196,199 shares of CION's stock after acquiring an additional 183,696 shares during the quarter. As of the most recent filing, Strong Tower Advisory Services owns around 0.37% of CION Investment, with a total value of approximately $2,335,000.

Moreover, several other institutional investors and hedge funds have also made adjustments to their positions in CION. For instance, Private Advisor Group LLC raised its investment in CION by a staggering 674.1% in the second quarter, bringing their total to 617,444 shares valued at $7,483,000 after purchasing an additional 537,681 shares in the last quarter. Similarly, Cetera Investment Advisers increased their stake in CION by 2,340.1% during the first quarter, now owning 524,131 shares worth $5,765,000 following an additional 502,651 share acquisition. Alpine Global Management LLC also ramped up its holdings by 143.6% in the first quarter, increasing their total to 633,297 shares valued at $6,966,000 after acquiring 373,297 additional shares.

Diversify Wealth Management LLC made a new investment in CION during the second quarter, amounting to around $2,250,000. In addition, Acadian Asset Management LLC increased its stake by 32.5% in the second quarter, owning 695,609 shares valued at $8,427,000 after buying an extra 170,635 shares during that time. Collectively, institutional and hedge fund investors own about 32.01% of CION's stock.

Analysts Provide New Insights

In related news, Oppenheimer has begun coverage on CION Investment, issuing a report on the matters with a rating of "market perform" and setting a price target of $13.00 for the stock.

CION Investment Stock Performance

As of the last trading session on Friday, CION Investment's stock experienced a slight decline of 0.1%, trading at $11.77. A total of 52,960 shares changed hands, compared to its average trading volume of 231,624. Over the past year, the stock has reached a low of $9.65 and a high of $12.69. The company boasts a market capitalization of $629.11 million, a P/E ratio of 5.00, and a beta of 1.18. CION Investment's simple moving averages are recorded at $11.91 over 50 days and $11.91 over 200 days.

In its most recent quarterly earnings report posted on August 8th, CION Investment reported earnings per share of $0.43 and revenue of $61.36 million for that quarter. The company has also reported a net margin of 48.50% and a return on equity of 12.39%. Analysts anticipate that CION Investment Co. will post an earnings per share figure of 1.77 for the current year.

Dividend Declaration by CION Investment

CION Investment Corporation has recently announced a quarterly dividend, which was disbursed on September 17th. Shareholders recorded on September 3rd received a dividend payment of $0.36, with the ex-dividend date coinciding on the same day. This dividend signifies an annual total of $1.44, reflecting a yield of 12.23%. Notably, CION Investment holds a dividend payout ratio (DPR) of 61.28%.

CION Investment Overview

CION Investment Corporation is recognized as a business development company focusing on investments in senior secured loans, including types like unitranche loans, first lien loans, second lien loans, long-term subordinated loans, and mezzanine loans. The company also invests in equity interests such as warrants or options, corporate bonds, and other debt securities targeting middle-market firms.

Conclusion

The recent activities surrounding CION Investment highlight significant institutional interest and adjustments in holdings, suggesting potential growth and investment opportunities in the near future.

CION, Investment, Stocks