CION Investment Co. Sees Major Stake Increase from Strong Tower Advisory Services

In a significant financial move, Strong Tower Advisory Services has increased its stake in CION Investment Co. (NYSE:CION) by an impressive 1,469.2% during the third quarter. According to the latest filing with the Securities and Exchange Commission (SEC), the advisory service acquired an additional 183,696 shares, bringing its total holdings to 196,199 shares. This acquisition represents approximately 0.37% of CION Investment, valued at around $2,335,000 as of the recent SEC disclosure.

Apart from Strong Tower Advisory Services, several other institutional investors and hedge funds have also adjusted their positions in CION. Notably, Private Advisor Group LLC increased its shares by 674.1% during the second quarter, now owning 617,444 shares worth $7,483,000 after acquiring 537,681 shares in the past quarter. Cetera Investment Advisers exhibited even more substantial growth, boosting its stake by 2,340.1% in the first quarter, owning 524,131 shares valued at $5,765,000 after purchasing an additional 502,651 shares during the same period.

Alpine Global Management LLC increased its stake in CION Investment by 143.6% during the first quarter, bringing its total holdings to 633,297 shares valued at $6,966,000 after acquiring 373,297 shares. Meanwhile, Diversify Wealth Management LLC entered a new position in CION during the second quarter, valued at about $2,250,000. Acadian Asset Management LLC also increased its stake by 32.5% during the second quarter, now owning 695,609 shares valued at $8,427,000 after purchasing an additional 170,635 shares. Overall, about 32.01% of CION’s stock is owned by institutional investors and hedge funds.

New Price Targets Set by Analysts

In related news, Oppenheimer recently initiated coverage on CION Investment, assigning a "market perform" rating along with a price target of $13.00 for the stock.

CION Investment Stock Performance

In recent trading, CION Investment shares experienced a slight decrease of 0.1%, with the price hitting $11.77. Approximately 52,960 shares traded hands, a figure considerably lower than its average volume of 231,624. The stock has a one-year range, with a low of $9.65 and a high of $12.69, while the company maintains a market capitalization of $629.11 million. Presently, CION has a price-to-earnings (P/E) ratio of 5.00 and a beta of 1.18. Its moving averages stand at $11.91 for both the 50-day and 200-day periods.

For the most recent quarterly earnings report on August 8th, CION Investment publicized earnings of $0.43 per share and total revenue of $61.36 million, showcasing a net margin of 48.50% and a return on equity of 12.39%. Analysts forecasts indicate that CION Investment is expected to report an earnings per share of 1.77 for the current year.

Dividend Announcements from CION Investment

CION Investment has also declared its latest quarterly dividend, which was distributed on September 17th. Shareholders recognized a dividend of $0.36 for the record date of September 3rd, making for an annualized payout of $1.44 and a yield of 12.23%. The company's dividend payout ratio currently stands at 61.28%.

Company Overview

CION Investment Corporation operates as a business development company that specializes in various investment avenues. The company primarily focuses on senior secured loans, which include unitranche loans, first lien, second lien loans, long-term subordinated loans, and mezzanine loans, as well as equity interests such as warrants or options and corporate bonds, alongside other debt securities in middle-market companies.

CION, Investment, Funds