Insider Buying: CION Investment Co. (NYSE:CION) Insider Buys 2,000 Shares of Stock

CION Investment Co. (NYSE:CION – Get Rating) insider Gregg A. Bresner acquired 2,000 shares of the business’s stock in a transaction on Friday, May 26th. The shares were bought at an average cost of $9.90 per share, with a total value of $19,800.00. Following the completion of the acquisition, the insider now owns 44,099 shares in the company, valued at $436,580.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

CION Investment Stock Up 0.8 %

CION traded up $0.08 during trading hours on Friday, reaching $9.95. 120,945 shares of the company’s stock traded hands, compared to its average volume of 188,937. The firm has a 50-day moving average price of $9.65 and a 200 day moving average price of $10.18. CION Investment Co. has a 52-week low of $7.83 and a 52-week high of $11.57. The firm has a market capitalization of $545.27 million, a PE ratio of 52.37 and a beta of 1.34.

CION Investment (NYSE:CION – Get Rating) last announced its quarterly earnings data on Thursday, March 16th. The company reported $0.43 earnings per share for the quarter. CION Investment had a net margin of 5.14% and a return on equity of 11.16%. The company had revenue of $55.50 million during the quarter.

CION Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be issued a dividend of $0.34 per share. The ex-dividend date is Wednesday, May 31st. This represents a $1.36 dividend on an annualized basis and a yield of 13.67%. CION Investment’s payout ratio is 715.79%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company downgraded shares of CION Investment from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $10.50 to $9.25 in a report on Tuesday, April 18th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Newbridge Financial Services Group Inc. grew its holdings in CION Investment by 374.9% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 25,281 shares of the company’s stock worth $246,000 after acquiring an additional 19,958 shares in the last quarter. United Capital Financial Advisers LLC purchased a new stake in CION Investment during the third quarter worth $111,000. Triumph Capital Management lifted its holdings in CION Investment by 20.4% during the fourth quarter. Triumph Capital Management now owns 43,337 shares of the company’s stock worth $423,000 after buying an additional 7,343 shares during the period. Virtus ETF Advisers LLC purchased a new stake in CION Investment during the third quarter worth $107,000. Finally, Bulldog Investors LLP lifted its holdings in CION Investment by 45.6% during the third quarter. Bulldog Investors LLP now owns 974,829 shares of the company’s stock worth $8,286,000 after buying an additional 305,405 shares during the period. 27.22% of the stock is currently owned by hedge funds and other institutional investors.

CION Investment Company Profile

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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.