CION Investment Co. (NYSE:CION - Get Free Report) Director Robert A. Breakstone acquired 1,000 shares of the stock in a transaction dated Friday, November 15th. The shares were acquired at an average cost of $11.34 per share, with a total value of $11,340.00. Following the completion of the transaction, the director now owns 13,238 shares in the company, valued at approximately $150,118.92. This represents a 8.17 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
CION Investment Stock Up 1.4 %
NYSE CION opened at $11.50 on Tuesday. CION Investment Co. has a 52-week low of $10.52 and a 52-week high of $12.69. The business's 50-day moving average price is $11.78 and its 200 day moving average price is $12.03. The firm has a market cap of $612.84 million, a P/E ratio of 7.82 and a beta of 1.18.
CION Investment Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.35 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.40 dividend on an annualized basis and a yield of 12.17%. CION Investment's payout ratio is currently 97.96%.
Institutional Investors Weigh In On CION Investment
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A number of hedge funds have recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new stake in CION Investment in the third quarter valued at $124,000. Orion Portfolio Solutions LLC grew its position in shares of CION Investment by 54.1% in the third quarter. Orion Portfolio Solutions LLC now owns 27,109 shares of the company's stock valued at $323,000 after purchasing an additional 9,518 shares during the last quarter. Jane Street Group LLC purchased a new position in CION Investment during the third quarter worth $161,000. Beck Capital Management LLC raised its stake in CION Investment by 6.5% in the 3rd 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. Finally, Paloma Partners Management Co acquired a new position in shares of CION Investment in the third quarter valued at approximately $220,000. Institutional investors and hedge funds own 32.01% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the company. Wells Fargo & Company lowered their price target on CION Investment from $12.00 to $11.50 and set an "equal weight" rating for the company in a report on Tuesday, October 29th. Oppenheimer started coverage on shares of CION Investment in a research note on Tuesday, October 8th. They issued a "market perform" rating and a $13.00 price objective for the company.
View Our Latest Stock Analysis on CION
CION Investment Company Profile
(
Get Free Report)
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.
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