CION Investment Co. (NYSE:CION) Director Acquires $11,340.00 in Stock

CION Investment Co. (NYSE:CION) Director Robert A. Breakstone bought 1,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were bought at an average price of $11.34 per share, with a total value of $11,340.00. Following the completion of the transaction, the director now owns 13,238 shares in the company, valued at approximately $150,118.92. This trade represents a 8.17 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CION Investment Price Performance

CION stock traded up $0.16 during trading on Monday, reaching $11.50. 123,292 shares of the company were exchanged, compared to its average volume of 227,325. CION Investment Co. has a twelve month low of $10.52 and a twelve month high of $12.69. The company has a market capitalization of $612.84 million, a price-to-earnings ratio of 7.71 and a beta of 1.18. The company has a 50-day moving average of $11.78 and a two-hundred day moving average of $12.03.

CION Investment Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 12.17%. The ex-dividend date of this dividend is Monday, December 2nd. CION Investment’s dividend payout ratio (DPR) is 97.96%.

Hedge Funds Weigh In On CION Investment

A number of institutional investors and hedge funds have recently bought and sold shares of CION. Concurrent Investment Advisors LLC grew its holdings in shares of CION Investment by 2.9% during the third quarter. Concurrent Investment Advisors LLC now owns 41,729 shares of the company’s stock worth $497,000 after purchasing an additional 1,190 shares during the last quarter. Endowment Wealth Management Inc. grew its holdings in CION Investment by 2.3% during the 2nd quarter. Endowment Wealth Management Inc. now owns 56,841 shares of the company’s stock worth $689,000 after acquiring an additional 1,253 shares during the last quarter. Beck Capital Management LLC increased its position in CION Investment by 6.5% in the 3rd quarter. Beck Capital Management LLC now owns 29,511 shares of the company’s stock valued at $351,000 after acquiring an additional 1,797 shares during the period. GPS Wealth Strategies Group LLC raised its stake in shares of CION Investment by 5.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 37,893 shares of the company’s stock valued at $459,000 after acquiring an additional 1,901 shares during the last quarter. Finally, Townsquare Capital LLC lifted its holdings in shares of CION Investment by 7.0% during the third quarter. Townsquare Capital LLC now owns 31,438 shares of the company’s stock worth $374,000 after purchasing an additional 2,061 shares during the period. Institutional investors and hedge funds own 32.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on CION shares. Wells Fargo & Company reduced their price target on shares of CION Investment from $12.00 to $11.50 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Oppenheimer initiated coverage on CION Investment in a research note on Tuesday, October 8th. They issued a “market perform” rating and a $13.00 price target on the stock.

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.