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

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

CION Investment Stock Up 0.2 %

NYSE CION traded up $0.03 during trading hours on Thursday, hitting $10.94. The company’s stock had a trading volume of 183,376 shares, compared to its average volume of 232,788. The stock has a fifty day moving average of $11.76 and a 200 day moving average of $11.71. CION Investment Co. has a twelve month low of $10.52 and a twelve month high of $12.71. The firm has a market capitalization of $582.68 million, a P/E ratio of 7.43 and a beta of 1.11.

CION Investment (NYSE:CION) last posted its quarterly earnings results 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 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%. On average, analysts predict 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 paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 13.17%. The ex-dividend date of this dividend is Friday, March 28th. CION Investment’s payout ratio is presently 228.57%.

Hedge Funds Weigh In On CION Investment

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. raised its holdings in CION Investment by 14.1% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 504,411 shares of the company’s stock worth $5,750,000 after buying an additional 62,365 shares during the period. Jane Street Group LLC acquired a new position in CION Investment during the 3rd quarter worth approximately $161,000. A&I Financial Services LLC acquired a new stake in shares of CION Investment in the fourth quarter valued at approximately $386,000. Whipplewood Advisors LLC acquired a new position in CION Investment during the fourth quarter worth $466,000. Finally, Arete Wealth Advisors LLC raised its stake in CION Investment by 67.6% in the third quarter. Arete Wealth Advisors LLC now owns 28,275 shares of the company’s stock valued at $337,000 after buying an additional 11,408 shares during the period. 32.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

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.