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

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

CION Investment Stock Performance

Shares of CION Investment stock opened at $10.93 on Friday. The company has a market capitalization of $579.32 million, a P/E ratio of 7.43 and a beta of 1.11. CION Investment Co. has a fifty-two week low of $10.52 and a fifty-two week high of $12.71. The company has a fifty day moving average of $11.76 and a 200 day moving average of $11.71.

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

CION Investment Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.44 dividend on an annualized basis and a yield of 13.18%. CION Investment’s dividend payout ratio is currently 228.57%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On CION Investment

Hedge funds and other institutional investors have recently modified their holdings of the business. Ameriflex Group Inc. purchased a new stake in CION Investment during the fourth quarter valued at approximately $55,000. Golden State Wealth Management LLC acquired a new stake in CION Investment during the fourth quarter valued at $96,000. Quantbot Technologies LP acquired a new stake in shares of CION Investment in the third quarter valued at about $104,000. Aquatic Capital Management LLC acquired a new position in CION Investment during the fourth quarter worth about $103,000. Finally, Virtu Financial LLC acquired a new position in CION Investment during the third quarter worth about $127,000. 32.01% of the stock is currently owned by institutional investors.

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.