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

CION Investment Co. (NYSE:CION - Get Free Report) insider Gregg A. Bresner bought 1,000 shares of the business's stock in a transaction on Monday, March 31st. The stock was bought at an average price of $10.41 per share, with a total value of $10,410.00. Following the purchase, the insider now owns 63,599 shares in the company, valued at $662,065.59. This trade represents a 1.60 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

CION Investment Stock Performance

CION traded down $0.68 on Monday, reaching $8.80. The company had a trading volume of 1,089,937 shares, compared to its average volume of 329,936. CION Investment Co. has a 52-week low of $8.67 and a 52-week high of $12.71. The company has a market cap of $466.69 million, a price-to-earnings ratio of 5.99 and a beta of 1.17. The business has a 50 day simple moving average of $11.58 and a 200 day simple moving average of $11.61.

CION Investment (NYSE:CION - Get Free Report) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.01). The company had revenue of $87.91 million for the quarter, compared to the consensus estimate 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 research analysts predict that CION Investment Co. will post 1.78 EPS for the current fiscal year.

CION Investment Dividend Announcement

The company 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. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 16.36%. CION Investment's dividend payout ratio is 228.57%.

Analysts Set New Price Targets

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

Institutional Trading of CION Investment

A number of hedge funds have recently bought and sold shares of CION. Ameriflex Group Inc. bought a new stake in shares of CION Investment in the 4th quarter worth approximately $55,000. Golden State Wealth Management LLC bought a new stake in CION Investment in the fourth quarter worth $96,000. Aquatic Capital Management LLC purchased a new stake in CION Investment during the fourth quarter valued at about $103,000. Quantbot Technologies LP bought a new position in shares of CION Investment during the third quarter valued at about $104,000. Finally, Coppell Advisory Solutions LLC lifted its stake 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 valued at $123,000 after acquiring an additional 1,093 shares during the last quarter. 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.