ExodusPoint Capital Management LP Has $370,000 Stock Holdings in CION Investment Co. (NYSE:CION)

ExodusPoint Capital Management LP reduced its stake in CION Investment Co. (NYSE:CION) by 40.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,459 shares of the company’s stock after selling 21,652 shares during the quarter. ExodusPoint Capital Management LP’s holdings in CION Investment were worth $370,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CION. Wealthfront Advisers LLC bought a new stake in shares of CION Investment in the 4th quarter valued at $6,899,000. Raymond James Financial Inc. bought a new stake in CION Investment during the fourth quarter valued at $1,711,000. Hennion & Walsh Asset Management Inc. grew its holdings in CION Investment by 14.1% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 504,411 shares of the company’s stock worth $5,750,000 after acquiring an additional 62,365 shares during the period. Franklin Resources Inc. raised its position in shares of CION Investment by 14.1% in the 4th quarter. Franklin Resources Inc. now owns 409,661 shares of the company’s stock worth $4,670,000 after acquiring an additional 50,705 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new position in shares of CION Investment in the 4th quarter valued at about $466,000. 32.01% of the stock is currently owned by institutional investors.

CION Investment Stock Down 1.3 %

Shares of NYSE CION opened at $8.83 on Friday. The firm has a market cap of $467.96 million, a PE ratio of 6.00 and a beta of 1.17. The company’s fifty day simple moving average is $11.22 and its 200 day simple moving average is $11.47. CION Investment Co. has a 12-month low of $8.51 and a 12-month high of $12.71.

CION Investment (NYSE:CION) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). CION Investment had a return on equity of 11.49% and a net margin of 31.21%. The company had revenue of $87.91 million for the quarter, compared to the consensus estimate of $54.11 million. On average, equities analysts predict that CION Investment Co. will post 1.78 earnings per share for the current year.

CION Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $1.44 annualized dividend and a dividend yield of 16.32%. CION Investment’s dividend payout ratio is 228.57%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company reaffirmed an “underweight” rating and set a $10.00 target price (down previously from $11.00) on shares of CION Investment in a research note on Monday, March 17th.

About CION Investment

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.