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

CION Investment Co. (NYSE:CION) insider Gregg A. Bresner purchased 1,000 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were 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 represents a 1.60 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

CION Investment Stock Performance

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

CION Investment (NYSE:CION) last announced its earnings results 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). CION Investment had a return on equity of 11.49% and a net margin of 31.21%. The company had revenue of $87.91 million for the quarter, compared to the consensus estimate of $54.11 million. As a group, analysts anticipate that CION Investment Co. will post 1.78 EPS for the current year.

CION Investment Announces Dividend

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On CION Investment

Several institutional investors and hedge funds have recently bought and sold shares of CION. Bulldog Investors LLP increased its stake in CION Investment by 62.4% in the fourth quarter. Bulldog Investors LLP now owns 1,682,352 shares of the company’s stock valued at $19,190,000 after acquiring an additional 646,596 shares during the period. Van ECK Associates Corp boosted its stake in CION Investment by 1.7% in the 4th quarter. Van ECK Associates Corp now owns 1,329,799 shares of the company’s stock valued at $15,160,000 after buying an additional 21,825 shares in the last quarter. Invesco Ltd. bought a new stake in CION Investment in the fourth quarter valued at $11,882,000. Wells Fargo & Company MN grew its holdings in shares of CION Investment by 6,958.9% in the 4th quarter. Wells Fargo & Company MN now owns 722,201 shares of the company’s stock worth $8,233,000 after purchasing an additional 711,970 shares during the last quarter. Finally, Private Advisor Group LLC boosted its position in CION Investment by 2.5% in the fourth quarter. Private Advisor Group LLC now owns 667,922 shares of the company’s stock valued at $7,614,000 after buying an additional 16,417 shares in 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.