Strong Tower Advisory Services Increases Stake in CION Investment Co.

Strong Tower Advisory Services significantly increased its stake in CION Investment Co. (NYSE:CION) by an impressive 1,469.2% during the third quarter, as reported in its latest filing with the Securities and Exchange Commission (SEC). This growth brought the firm's total to 196,199 shares after they purchased an additional 183,696 shares in that period. Based on the recent SEC filing, Strong Tower Advisory Services now holds approximately 0.37% of CION Investment, valued at $2,335,000.

In addition to Strong Tower, several other institutional investors and hedge funds have recently adjusted their stakes in CION. For instance, Private Advisor Group LLC raised its holdings by 674.1% during the second quarter, increasing its ownership to 617,444 shares worth approximately $7,483,000 after adding 537,681 shares. Another significant increase came from Cetera Investment Advisers, which boosted its stake by 2,340.1% in the first quarter, bringing its total to 524,131 shares valued at $5,765,000 following an additional purchase of 502,651 shares.

Alpine Global Management LLC also made notable investments, increasing its holdings by 143.6% in the first quarter to own 633,297 shares now valued at about $6,966,000 after acquiring 373,297 shares. Additionally, Diversify Wealth Management LLC entered a new position in CION during the second quarter, committing around $2,250,000. Acadian Asset Management LLC also raised its stake by 32.5% in the second quarter, owning 695,609 shares worth approximately $8,427,000 after an additional purchase of 170,635 shares. Currently, institutional investors and hedge funds collectively own about 32.01% of CION's stock.

Analysts' Insights and Price Targets

Meanwhile, Oppenheimer has recently started tracking CION Investment, issuing a report that rates the stock as a "market perform" with a price target set at $13.00. This news can guide potential investors in understanding how market professionals assess the company.

CION Investment Stock Performance

During trading hours on Friday, CION Investment's stock saw a slight decline of 0.1%, dropping by $0.01 to $11.77. A total of 52,960 shares changed hands, which is less than the average trading volume of 231,624. The company has experienced a 52-week trading range, with a low of $9.65 and a high of $12.69. CION Investment Co. currently holds a market capitalization of $629.11 million, a price-to-earnings (P/E) ratio of 5.00, and a beta of 1.18. Its 50-day and 200-day simple moving averages are both around $11.91.

On August 8th, CION Investment reported its quarterly earnings, revealing earnings per share (EPS) of $0.43 for the quarter and a revenue of $61.36 million. The company achieved a net margin of 48.50% and a return on equity of 12.39%. Analysts forecast that CION Investment Co. will report an EPS of 1.77 for the current fiscal year.

Dividends and Shareholder Returns

Adding to its appeal for investors, CION Investment recently declared a quarterly dividend, which was paid out on September 17th. Shareholders who were on record as of September 3rd received a dividend of $0.36. The ex-dividend date was also September 3rd. This results in an annualized dividend payment of $1.44, translating to a yield of 12.23%. It's noteworthy that the company maintains a dividend payout ratio (DPR) of 61.28%, which reinforces its commitment to returning value to shareholders.

About CION Investment

CION Investment Corporation operates as a business development company. The firm's investment strategy includes focusing on senior secured loans like unitranche loans, first and second lien loans, long-term subordinated loans, and mezzanine loans. Additionally, it invests in equity interests such as warrants or options, corporate bonds, and other debt securities targeting middle-market firms.

Investment, Shareholders, Stake