Insider Buying: CION Investment Co. (NYSE:CION) Insider Buys 1,000 Shares of Stock

CION Investment Co. (NYSE:CION - Get Free Report) insider Gregg A. Bresner bought 1,000 shares of the company's stock in a transaction dated Wednesday, March 19th. The stock was bought at an average cost of $10.98 per share, for a total transaction of $10,980.00. Following the acquisition, the insider now owns 62,599 shares of the company's stock, valued at approximately $687,337.02. This trade represents a 1.62 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

CION Investment Price Performance

Shares of CION stock traded down $0.05 during trading hours on Monday, reaching $10.79. 243,454 shares of the company's stock were exchanged, compared to its average volume of 232,524. The company's 50 day moving average is $11.76 and its two-hundred day moving average is $11.69. The company has a market cap of $572.16 million, a P/E ratio of 7.34 and a beta of 1.11. CION Investment Co. has a 1 year low of $10.54 and a 1 year high of $12.71.

CION Investment (NYSE:CION - Get Free Report) last released 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 business had revenue of $87.91 million during 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, analysts predict that CION Investment Co. will post 1.78 EPS for the current fiscal year.

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CION Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors 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 yield of 13.35%. The ex-dividend date is Friday, March 28th. CION Investment's dividend payout ratio is currently 228.57%.

Analyst Ratings Changes

Separately, Wells Fargo & Company restated 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.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Ameriflex Group Inc. acquired a new stake in shares of CION Investment in the 4th quarter worth approximately $55,000. Golden State Wealth Management LLC acquired a new stake in CION Investment in the fourth quarter valued at $96,000. Aquatic Capital Management LLC purchased a new position in shares of CION Investment in the fourth quarter valued at $103,000. Quantbot Technologies LP acquired a new position in shares of CION Investment during the 3rd quarter worth $104,000. Finally, Coppell Advisory Solutions LLC boosted its position in shares of CION Investment by 11.1% in the 4th quarter. Coppell Advisory Solutions LLC now owns 10,966 shares of the company's stock worth $123,000 after buying an additional 1,093 shares in the last quarter. 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.