CION Investment Co. (NYSE:CION) Insider Acquires $10,410.00 in Stock

CION Investment Co. (NYSE:CION) insider Gregg A. Bresner acquired 1,000 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was acquired at an average cost of $10.41 per share, for a total transaction of $10,410.00. Following the completion of the purchase, the insider now owns 63,599 shares in the company, valued at $662,065.59. The trade was a 1.60 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

CION Investment Stock Down 6.7 %

CION opened at $9.52 on Friday. The firm has a market cap of $504.55 million, a P/E ratio of 6.47 and a beta of 1.11. The business’s fifty day simple moving average is $11.58 and its 200 day simple moving average is $11.61. CION Investment Co. has a 52 week low of $9.41 and a 52 week high of $12.71.

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

CION Investment Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 15.13%. The ex-dividend date is Friday, March 28th. CION Investment’s dividend payout ratio is presently 228.57%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On CION Investment

A number of hedge funds and other institutional investors have recently made changes to their positions in CION. Ameriflex Group Inc. acquired a new stake in CION Investment in the 4th quarter worth about $55,000. Golden State Wealth Management LLC acquired a new stake in shares of CION Investment in the fourth quarter worth approximately $96,000. Aquatic Capital Management LLC purchased a new stake in CION Investment in the fourth quarter valued at approximately $103,000. Quantbot Technologies LP acquired a new position in CION Investment during the third quarter worth approximately $104,000. Finally, Coppell Advisory Solutions LLC raised its stake in 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 during the period. Hedge funds and other institutional investors own 32.01% of the company’s stock.

About CION Investment

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.