Insider Buying: CION Investment Co. (NYSE:CION) Insider Purchases 2,000 Shares of Stock

CION Investment Co. (NYSE:CION) insider Gregg A. Bresner bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was purchased at an average price of $11.41 per share, with a total value of $22,820.00. Following the completion of the purchase, the insider now owns 59,599 shares in the company, valued at approximately $680,024.59. This trade represents a 3.47 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

CION Investment Price Performance

NYSE CION traded up $0.06 on Thursday, hitting $11.43. The company had a trading volume of 163,656 shares, compared to its average volume of 227,858. The company has a market capitalization of $608.84 million, a PE ratio of 7.78 and a beta of 1.18. CION Investment Co. has a 12-month low of $10.52 and a 12-month high of $12.69. The company’s fifty day moving average price is $11.79 and its 200-day moving average price is $12.03.

CION Investment Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.40 annualized dividend and a dividend yield of 12.25%. CION Investment’s dividend payout ratio (DPR) is presently 97.96%.

Analysts Set New Price Targets

A number of brokerages have weighed in on CION. Oppenheimer began coverage on shares of CION Investment in a research report on Tuesday, October 8th. They issued a “market perform” rating and a $13.00 price objective for the company. Wells Fargo & Company lowered their price target on CION Investment from $12.00 to $11.50 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC grew its stake in CION Investment by 32.5% during the 2nd quarter. Acadian Asset Management LLC now owns 695,609 shares of the company’s stock valued at $8,427,000 after acquiring an additional 170,635 shares in the last quarter. Cetera Investment Advisers grew its position in shares of CION Investment by 2,340.1% in the first 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. Diversify Wealth Management LLC acquired a new stake in shares of CION Investment in the second quarter valued at approximately $2,250,000. Van ECK Associates Corp increased its holdings in shares of CION Investment by 15.7% in the second quarter. Van ECK Associates Corp now owns 1,237,366 shares of the company’s stock valued at $14,996,000 after purchasing an additional 167,567 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in CION Investment by 1,090.0% during the third quarter. International Assets Investment Management LLC now owns 871,080 shares of the company’s stock worth $103,660,000 after buying an additional 797,880 shares during the last quarter. 32.01% of the stock is owned by hedge funds and other 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.