CION Investment (NYSE:CION) PT Lowered to $10.50

CION Investment (NYSE:CION – Get Rating) had its target price dropped by Wells Fargo & Company from $11.00 to $10.50 in a research note issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 10.06% from the company’s previous close.

CION Investment Stock Down 5.5 %

Shares of NYSE:CION opened at $9.54 on Friday. The firm has a fifty day moving average of $10.68 and a two-hundred day moving average of $10.03. CION Investment has a 12-month low of $7.83 and a 12-month high of $15.09. The firm has a market capitalization of $528.80 million, a P/E ratio of 9.54 and a beta of 1.46.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CION. Bulldog Investors LLP grew its stake in shares of CION Investment by 45.6% in the third quarter. Bulldog Investors LLP now owns 974,829 shares of the company’s stock worth $8,286,000 after acquiring an additional 305,405 shares during the last quarter. LPL Financial LLC raised its stake in CION Investment by 13.7% during the fourth quarter. LPL Financial LLC now owns 894,991 shares of the company’s stock worth $8,726,000 after acquiring an additional 108,099 shares in the last quarter. Pinkerton Retirement Specialists LLC lifted its holdings in shares of CION Investment by 46.7% during the third quarter. Pinkerton Retirement Specialists LLC now owns 820,258 shares of the company’s stock valued at $6,972,000 after acquiring an additional 261,094 shares during the period. Van ECK Associates Corp acquired a new stake in shares of CION Investment in the 4th quarter valued at $7,316,000. Finally, Millennium Management LLC grew its holdings in shares of CION Investment by 123.9% in the 2nd quarter. Millennium Management LLC now owns 737,237 shares of the company’s stock worth $6,414,000 after purchasing an additional 407,899 shares during the last quarter. Institutional investors own 27.22% of the company’s stock.

CION Investment Company Profile

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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.