Legacy Investment Solutions LLC Makes New Investment in CION Investment Co. (NYSE:CION)

Legacy Investment Solutions LLC bought a new position in shares of CION Investment Co. (NYSE:CION) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,924 shares of the company’s stock, valued at approximately $124,000.

Other large investors also recently made changes to their positions in the company. Quantbot Technologies LP acquired a new position in CION Investment in the 3rd quarter valued at $104,000. Focused Wealth Management Inc bought a new position in CION Investment during the third quarter worth about $120,000. First Heartland Consultants Inc. acquired a new stake in CION Investment in the 2nd quarter worth about $145,000. Fullcircle Wealth LLC acquired a new stake in CION Investment in the 2nd quarter worth about $156,000. Finally, Jane Street Group LLC bought a new stake in CION Investment in the 3rd quarter valued at about $161,000. Institutional investors own 32.01% of the company’s stock.

CION Investment Stock Performance

CION Investment stock opened at $11.47 on Friday. CION Investment Co. has a 52 week low of $10.52 and a 52 week high of $12.69. The stock has a market capitalization of $611.24 million, a P/E ratio of 7.80 and a beta of 1.14. The stock has a fifty day moving average of $11.71 and a 200-day moving average of $11.98.

CION Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 12.55%. The ex-dividend date is Monday, December 2nd. CION Investment’s payout ratio is 97.96%.

Wall Street Analysts Forecast Growth

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

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.