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

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

CION Investment Stock Up 0.1 %

Shares of CION stock opened at $10.49 on Thursday. The firm has a market capitalization of $556.25 million, a PE ratio of 7.14 and a beta of 1.11. The company has a 50 day moving average price of $11.65 and a 200-day moving average price of $11.64. CION Investment Co. has a 52 week low of $10.14 and a 52 week high of $12.71.

CION Investment (NYSE:CION) last posted its earnings results on Thursday, March 13th. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The company had revenue of $87.91 million during 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%. Analysts anticipate that CION Investment Co. will post 1.78 earnings per share for the current year.

CION Investment Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 13.73%. The ex-dividend date is Friday, March 28th. CION Investment’s dividend payout ratio is 228.57%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CION. Invesco Ltd. bought a new position in shares of CION Investment in the 4th quarter worth approximately $11,882,000. Wells Fargo & Company MN raised its position in CION Investment by 6,958.9% in the fourth quarter. Wells Fargo & Company MN now owns 722,201 shares of the company’s stock worth $8,233,000 after acquiring an additional 711,970 shares during the period. Bulldog Investors LLP boosted its stake in shares of CION Investment by 62.4% during the 4th quarter. Bulldog Investors LLP now owns 1,682,352 shares of the company’s stock worth $19,190,000 after acquiring an additional 646,596 shares during the last quarter. Wealthfront Advisers LLC bought a new stake in shares of CION Investment during the 4th quarter valued at $6,899,000. Finally, CF Capital LLC purchased a new stake in shares of CION Investment in the 4th quarter worth $4,809,000. 32.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company reaffirmed an “underweight” rating and set a $10.00 price objective (down from $11.00) on shares of CION Investment in a research report 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.