CION Investment Co. (NYSE:CION) Insider Gregg A. Bresner Buys 1,000 Shares

CION Investment Co. (NYSE:CION) insider Gregg A. Bresner purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was bought at an average cost of $10.98 per share, with a total value of $10,980.00. Following the purchase, the insider now owns 62,599 shares of the company’s stock, valued at $687,337.02. This represents a 1.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

CION Investment Stock Performance

Shares of CION opened at $10.85 on Friday. 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 $575.08 million, a price-to-earnings ratio of 7.38 and a beta of 1.11. The business’s fifty day moving average is $11.76 and its 200-day moving average is $11.70.

CION Investment (NYSE:CION) last released its earnings results 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). The business had revenue of $87.91 million during the quarter, compared to the consensus estimate of $54.11 million. CION Investment had a net margin of 31.21% and a return on equity of 11.49%. As a group, research analysts forecast that CION Investment Co. will post 1.78 EPS for the current fiscal year.

CION Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 13.28%. The ex-dividend date is Friday, March 28th. CION Investment’s dividend payout ratio is 228.57%.

Hedge Funds Weigh In On CION Investment

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameriflex Group Inc. acquired a new position in shares of CION Investment during the fourth quarter worth $55,000. Golden State Wealth Management LLC bought a new stake in CION Investment during the 4th quarter worth approximately $96,000. Aquatic Capital Management LLC acquired a new stake in CION Investment in the fourth quarter valued at $103,000. Quantbot Technologies LP bought a new position in CION Investment during the 3rd quarter worth $104,000. Finally, Coppell Advisory Solutions LLC lifted its holdings in CION Investment by 11.1% during the 4th quarter. Coppell Advisory Solutions LLC now owns 10,966 shares of the company’s stock worth $123,000 after buying an additional 1,093 shares during the period. Institutional investors own 32.01% of the company’s stock.

Analyst Ratings Changes

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

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.