CION Investment Co. (NYSE:CION) Insider Gregg A. Bresner Buys 2,000 Shares

CION Investment Co. (NYSE:CION) insider Gregg A. Bresner purchased 2,000 shares of CION Investment stock in a transaction that occurred on Tuesday, November 12th. The shares were bought at an average price of $11.41 per share, with a total value of $22,820.00. Following the completion of the transaction, the insider now owns 59,599 shares of the company’s stock, valued at $680,024.59. This represents a 3.47 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

CION Investment Price Performance

Shares of CION Investment stock opened at $11.34 on Friday. The stock has a market capitalization of $604.26 million, a price-to-earnings ratio of 7.71 and a beta of 1.18. The business has a 50-day moving average of $11.78 and a 200 day moving average of $12.03. CION Investment Co. has a 12 month low of $10.52 and a 12 month high of $12.69.

CION Investment Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 12.35%. CION Investment’s payout ratio is currently 97.96%.

Hedge Funds Weigh In On CION Investment

Several hedge funds have recently added to or reduced their stakes in CION. International Assets Investment Management LLC boosted its stake in shares of CION Investment by 1,090.0% in the third quarter. International Assets Investment Management LLC now owns 871,080 shares of the company’s stock valued at $103,660,000 after buying an additional 797,880 shares in the last quarter. Private Advisor Group LLC increased its position in CION Investment by 674.1% during the second quarter. Private Advisor Group LLC now owns 617,444 shares of the company’s stock worth $7,483,000 after buying an additional 537,681 shares in the last quarter. Cetera Investment Advisers lifted its holdings in CION Investment by 2,340.1% in the 1st quarter. Cetera Investment Advisers now owns 524,131 shares of the company’s stock valued at $5,765,000 after purchasing an additional 502,651 shares in the last quarter. Alpine Global Management LLC boosted its position in CION Investment by 143.6% during the first quarter. Alpine Global Management LLC now owns 633,297 shares of the company’s stock worth $6,966,000 after acquiring an additional 373,297 shares during the last quarter. Finally, Diversify Wealth Management LLC purchased a new stake in CION Investment in the 2nd quarter valued at about $2,250,000. 32.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CION. Wells Fargo & Company cut their price objective on shares of 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 began coverage on CION Investment in a research report on Tuesday, October 8th. They issued a “market perform” rating and a $13.00 target price on the 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.