CION Investment Co. (NYSE:CION - Get Free Report) insider Gregg A. Bresner purchased 1,000 shares of the company's stock in a transaction on Monday, March 31st. The stock was purchased at an average price of $10.41 per share, with a total value of $10,410.00. Following the completion of the transaction, the insider now owns 63,599 shares of the company's stock, valued at approximately $662,065.59. This trade represents a 1.60 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
CION Investment Stock Up 0.1 %
NYSE CION opened at $10.49 on Thursday. The business has a 50-day moving average price of $11.65 and a 200-day moving average price of $11.64. The firm has a market cap of $556.25 million, a price-to-earnings ratio of 7.14 and a beta of 1.11. CION Investment Co. has a twelve month low of $10.14 and a twelve month high of $12.71.
CION Investment (NYSE:CION - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $87.91 million for the quarter, compared to analysts' expectations of $54.11 million. CION Investment had a net margin of 31.21% and a return on equity of 11.49%. Research analysts expect that CION Investment Co. will post 1.78 EPS for the current fiscal year.
CION Investment Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.44 dividend on an annualized basis and a yield of 13.73%. CION Investment's dividend payout ratio is currently 228.57%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameriflex Group Inc. bought a new stake in shares of CION Investment in the fourth quarter worth about $55,000. Golden State Wealth Management LLC bought a new stake in CION Investment in the 4th quarter worth approximately $96,000. Aquatic Capital Management LLC purchased a new stake in shares of CION Investment during the 4th quarter worth approximately $103,000. Quantbot Technologies LP bought a new position in shares of CION Investment during the 3rd quarter valued at approximately $104,000. Finally, Coppell Advisory Solutions LLC grew its holdings in shares of CION Investment by 11.1% in the fourth quarter. Coppell Advisory Solutions LLC now owns 10,966 shares of the company's stock valued at $123,000 after purchasing an additional 1,093 shares in the last quarter. Institutional investors own 32.01% of the company's stock.
Wall Street Analyst Weigh In
Separately, Wells Fargo & Company restated an "underweight" rating and set a $10.00 target price (down previously from $11.00) on shares of CION Investment in a research note on Monday, March 17th.
Check Out Our Latest Stock Analysis on CION
About CION Investment
(
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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