CION Investment Co. (NYSE:CION) Insider Acquires $10,980.00 in Stock

CION Investment Co. (NYSE:CION) insider Gregg A. Bresner acquired 1,000 shares of the stock in a transaction dated Wednesday, March 19th. The shares were purchased at an average price of $10.98 per share, for a total transaction of $10,980.00. Following the completion of the transaction, the insider now owns 62,599 shares of the company’s stock, valued at $687,337.02. This trade represents a 1.62 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

CION Investment Price Performance

Shares of CION Investment stock traded up $0.03 during midday trading on Thursday, hitting $10.94. 183,376 shares of the company were exchanged, compared to its average volume of 232,788. The firm has a 50 day simple moving average of $11.76 and a 200-day simple moving average of $11.71. CION Investment Co. has a 52 week low of $10.52 and a 52 week high of $12.71. The firm has a market cap of $582.68 million, a P/E ratio of 7.43 and a beta of 1.11.

CION Investment (NYSE:CION) last issued its earnings results on Thursday, March 13th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). CION Investment had a net margin of 31.21% and a return on equity of 11.49%. The firm had revenue of $87.91 million during the quarter, compared to analyst estimates of $54.11 million. Equities research analysts expect that CION Investment Co. will post 1.78 earnings per share for the current year.

CION Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 13.17%. The ex-dividend date of this dividend is Friday, March 28th. CION Investment’s payout ratio is currently 228.57%.

Institutional Investors Weigh In On CION Investment

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ameriflex Group Inc. acquired a new stake in shares of CION Investment in the fourth quarter valued at $55,000. Golden State Wealth Management LLC bought a new stake in CION Investment during the 4th quarter worth about $96,000. Aquatic Capital Management LLC acquired a new stake in CION Investment in the 4th quarter valued at about $103,000. Quantbot Technologies LP bought a new position in shares of CION Investment in the third quarter worth about $104,000. Finally, Coppell Advisory Solutions LLC lifted its position in shares of CION Investment by 11.1% during the fourth quarter. Coppell Advisory Solutions LLC now owns 10,966 shares of the company’s stock worth $123,000 after purchasing an additional 1,093 shares in the last quarter. 32.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wells Fargo & Company restated an “underweight” rating and issued a $10.00 price objective (down previously from $11.00) on shares of CION Investment in a research note on Monday.

CION Investment Company Profile

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.