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

CION Investment Co. (NYSE:CION) insider Gregg A. Bresner bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The stock was bought at an average price of $10.41 per share, for a total transaction of $10,410.00. Following the completion of the acquisition, the insider now directly owns 63,599 shares in the company, valued at approximately $662,065.59. The trade was a 1.60 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

CION Investment Stock Performance

Shares of NYSE:CION traded up $0.01 during mid-day trading on Wednesday, hitting $10.49. The stock had a trading volume of 268,864 shares, compared to its average volume of 235,763. The company’s 50 day moving average is $11.67 and its 200-day moving average is $11.65. The company has a market cap of $556.25 million, a PE ratio of 7.14 and a beta of 1.11. CION Investment Co. has a 12-month low of $9.77 and a 12-month high of $12.71.

CION Investment (NYSE:CION) last posted its quarterly earnings results on Thursday, March 13th. The company reported $0.35 earnings per share 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%. On average, equities research analysts predict that CION Investment Co. will post 1.78 EPS for the current fiscal year.

CION Investment Dividend Announcement

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 dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 13.73%. The ex-dividend date of this dividend is Friday, March 28th. CION Investment’s dividend payout ratio (DPR) is currently 228.57%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company reissued an “underweight” rating and issued a $10.00 price target (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

Several institutional investors and hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP acquired a new stake in CION Investment during the third quarter valued at $104,000. Townsquare Capital LLC raised its stake in shares of CION Investment by 7.0% during the 3rd quarter. Townsquare Capital LLC now owns 31,438 shares of the company’s stock worth $374,000 after purchasing an additional 2,061 shares in the last quarter. Arete Wealth Advisors LLC lifted its holdings in shares of CION Investment by 67.6% during the 3rd quarter. Arete Wealth Advisors LLC now owns 28,275 shares of the company’s stock valued at $337,000 after buying an additional 11,408 shares during the last quarter. Paloma Partners Management Co bought a new stake in shares of CION Investment in the 3rd quarter valued at approximately $220,000. Finally, Jane Street Group LLC bought a new position in CION Investment during the third quarter valued at approximately $161,000. 32.01% of the stock is currently 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.