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

CION Investment Co. (NYSE:CION) insider Gregg A. Bresner purchased 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The stock was acquired at an average price of $10.41 per share, for a total transaction of $10,410.00. Following the acquisition, the insider now directly owns 63,599 shares of the company’s stock, valued at $662,065.59. This trade represents a 1.60 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link.

CION Investment Price Performance

Shares of NYSE CION opened at $9.52 on Friday. CION Investment Co. has a 1-year low of $9.41 and a 1-year high of $12.71. The company has a market capitalization of $504.55 million, a price-to-earnings ratio of 6.47 and a beta of 1.11. The business has a 50-day moving average of $11.58 and a 200-day moving average of $11.61.

CION Investment (NYSE:CION) last issued its quarterly earnings data 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 firm had revenue of $87.91 million during 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%. Research analysts expect that CION Investment Co. will post 1.78 EPS for the current fiscal year.

CION Investment Announces Dividend

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On CION Investment

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameriflex Group Inc. acquired a new position in shares of CION Investment in the fourth quarter worth about $55,000. Golden State Wealth Management LLC acquired a new position in shares of CION Investment in the 4th quarter valued at approximately $96,000. Quantbot Technologies LP purchased a new position in shares of CION Investment during the 3rd quarter valued at approximately $104,000. Aquatic Capital Management LLC acquired a new stake in shares of CION Investment during the fourth quarter worth approximately $103,000. Finally, Virtu Financial LLC bought a new stake in shares of CION Investment in the third quarter worth $127,000. 32.01% of the stock is owned by hedge funds and other 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.