Insider Buying: CION Investment Co. (NYSE:CION) Insider Buys $10,980.00 in Stock

CION Investment Co. (NYSE:CION) insider Gregg A. Bresner bought 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were acquired at an average price of $10.98 per share, for a total transaction of $10,980.00. Following the completion of the transaction, the insider now owns 62,599 shares in the company, valued at $687,337.02. This trade represents a 1.62 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

CION Investment Trading Down 0.9 %

Shares of CION stock opened at $10.85 on Friday. CION Investment Co. has a 1-year low of $10.54 and a 1-year high of $12.71. The stock has a market cap of $575.08 million, a price-to-earnings ratio of 7.38 and a beta of 1.11. The stock has a 50-day moving average of $11.76 and a 200-day moving average of $11.69.

CION Investment (NYSE:CION) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). CION Investment had a return on equity of 11.49% and a net margin of 31.21%. The firm had revenue of $87.91 million for the quarter, compared to the consensus estimate of $54.11 million. Sell-side analysts forecast that CION Investment Co. will post 1.78 earnings per share for the current year.

CION Investment Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $0.36 per share. 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 13.28%. CION Investment’s dividend payout ratio (DPR) is currently 228.57%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company reaffirmed an “underweight” rating and set a $10.00 price target (down previously from $11.00) on shares of CION Investment in a research note on Monday, March 17th.

Institutional Trading of CION Investment

A number of large investors have recently bought and sold shares of the business. BridgePort Financial Solutions LLC bought a new stake in shares of CION Investment during the 4th quarter valued at about $191,000. Ameriflex Group Inc. bought a new position in shares of CION Investment during the 4th quarter worth approximately $55,000. Alpine Global Management LLC grew its position in shares of CION Investment by 42.1% during the 4th quarter. Alpine Global Management LLC now owns 383,632 shares of the company’s stock worth $4,373,000 after buying an additional 113,632 shares during the period. Two Sigma Investments LP increased its stake in shares of CION Investment by 5.1% in the 4th quarter. Two Sigma Investments LP now owns 390,572 shares of the company’s stock valued at $4,453,000 after acquiring an additional 19,058 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of CION Investment by 36.5% during the 4th quarter. Lazard Asset Management LLC now owns 74,621 shares of the company’s stock valued at $850,000 after acquiring an additional 19,969 shares during the period. 32.01% of the stock is currently owned by institutional investors and hedge funds.

About CION Investment

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.