CION Investment Co. (NYSE:CION) Director Purchases $11,340.00 in Stock

CION Investment Co. (NYSE:CION) Director Robert A. Breakstone bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average cost of $11.34 per share, for a total transaction of $11,340.00. Following the transaction, the director now owns 13,238 shares in the company, valued at $150,118.92. The trade was a 8.17 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

CION Investment Price Performance

NYSE CION traded up $0.16 on Monday, hitting $11.50. 123,292 shares of the stock were exchanged, compared to its average volume of 227,325. The company has a market capitalization of $612.84 million, a PE ratio of 7.71 and a beta of 1.18. The business’s fifty day moving average is $11.78 and its 200 day moving average is $12.03. CION Investment Co. has a 52 week low of $10.52 and a 52 week high of $12.69.

CION Investment Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 12.17%. The ex-dividend date is Monday, December 2nd. CION Investment’s payout ratio is currently 97.96%.

Analyst Ratings Changes

CION has been the subject of several research reports. Wells Fargo & Company decreased their price target on shares of CION Investment from $12.00 to $11.50 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Oppenheimer initiated coverage on shares of CION Investment in a research note on Tuesday, October 8th. They set a “market perform” rating and a $13.00 price objective for the company.

Institutional Trading of CION Investment

Several institutional investors and hedge funds have recently bought and sold shares of CION. Concurrent Investment Advisors LLC increased its holdings in shares of CION Investment by 2.9% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 41,729 shares of the company’s stock worth $497,000 after acquiring an additional 1,190 shares during the last quarter. Endowment Wealth Management Inc. boosted its position in CION Investment by 2.3% during the second quarter. Endowment Wealth Management Inc. now owns 56,841 shares of the company’s stock worth $689,000 after purchasing an additional 1,253 shares during the period. Beck Capital Management LLC increased its holdings in shares of CION Investment by 6.5% in the third quarter. Beck Capital Management LLC now owns 29,511 shares of the company’s stock valued at $351,000 after purchasing an additional 1,797 shares during the last quarter. GPS Wealth Strategies Group LLC raised its position in shares of CION Investment by 5.3% in the second quarter. GPS Wealth Strategies Group LLC now owns 37,893 shares of the company’s stock valued at $459,000 after purchasing an additional 1,901 shares during the period. Finally, Townsquare Capital LLC raised its holdings in CION Investment by 7.0% in the 3rd quarter. Townsquare Capital LLC now owns 31,438 shares of the company’s stock valued at $374,000 after acquiring an additional 2,061 shares during the period. Institutional investors own 32.01% of the company’s stock.

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.