Robert A. Breakstone Purchases 1,000 Shares of CION Investment Co. (NYSE:CION) Stock

CION Investment Co. (NYSE:CION) Director Robert A. Breakstone acquired 1,000 shares of the stock in a transaction dated Friday, November 15th. The shares were bought at an average cost of $11.34 per share, for a total transaction of $11,340.00. Following the acquisition, 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 purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

CION Investment Stock Performance

CION opened at $11.48 on Wednesday. The business has a 50 day moving average price of $11.78 and a 200 day moving average price of $12.03. CION Investment Co. has a twelve month low of $10.52 and a twelve month high of $12.69. The firm has a market cap of $611.72 million, a P/E ratio of 7.81 and a beta of 1.18.

CION Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.36 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.44 annualized dividend and a dividend yield of 12.54%. CION Investment’s dividend payout ratio is 97.96%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CION shares. Oppenheimer started coverage on CION Investment in a report on Tuesday, October 8th. They issued a “market perform” rating and a $13.00 target price for the company. Wells Fargo & Company reduced their target price 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.

Institutional Investors Weigh In On CION Investment

Hedge funds have recently modified their holdings of the business. Lazard Asset Management LLC bought a new stake in shares of CION Investment in the first quarter valued at approximately $37,000. Quantbot Technologies LP bought a new position in CION Investment in the third quarter worth $104,000. Focused Wealth Management Inc bought a new position in CION Investment in the third quarter worth $120,000. Legacy Investment Solutions LLC bought a new position in CION Investment in the third quarter worth $124,000. Finally, First Heartland Consultants Inc. bought a new position in CION Investment in the second quarter worth $145,000. 32.01% of the stock is owned by institutional investors.

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.