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

CION Investment Co. (NYSE:CION) insider Gregg A. Bresner purchased 1,000 shares of CION Investment stock in a transaction that occurred on Wednesday, March 19th. The shares were bought at an average cost of $10.98 per share, with a total value of $10,980.00. Following the completion of the transaction, 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 purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

CION Investment Stock Down 0.9 %

Shares of NYSE CION opened at $10.85 on Friday. The business’s 50 day moving average price is $11.76 and its two-hundred day moving average price is $11.70. The company has a market cap of $575.08 million, a PE ratio of 7.38 and a beta of 1.11. CION Investment Co. has a twelve month low of $10.52 and a twelve month high of $12.71.

CION Investment (NYSE:CION) last announced its quarterly 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 analyst estimates 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 anticipate that CION Investment Co. will post 1.78 EPS for the current fiscal year.

CION Investment Announces Dividend

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

Hedge Funds Weigh In On CION Investment

Large investors have recently made changes to their positions in the company. Ameriflex Group Inc. bought a new position in CION Investment during the 4th quarter worth $55,000. Golden State Wealth Management LLC acquired a new position in shares of CION Investment in the fourth quarter valued at about $96,000. Quantbot Technologies LP bought a new position in CION Investment during the third quarter worth about $104,000. Aquatic Capital Management LLC bought a new stake in CION Investment in the 4th quarter valued at about $103,000. Finally, Virtu Financial LLC acquired a new position in shares of CION Investment during the 3rd quarter worth approximately $127,000. Institutional investors own 32.01% of the company’s stock.

Wall Street Analyst Weigh In

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

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.