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

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

CION Investment Price Performance

CION Investment stock traded down $0.04 during midday trading on Friday, reaching $11.39. The company’s stock had a trading volume of 33,920 shares, compared to its average volume of 226,984. CION Investment Co. has a 52-week low of $10.52 and a 52-week high of $12.69. The stock has a market capitalization of $606.97 million, a P/E ratio of 7.77 and a beta of 1.18. The stock’s 50-day simple moving average is $11.79 and its 200-day simple moving average is $12.03.

CION Investment Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.35 dividend. 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 12.29%. CION Investment’s dividend payout ratio is currently 97.96%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On CION Investment

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Atomi Financial Group Inc. boosted its position in CION Investment by 8.6% in the first quarter. Atomi Financial Group Inc. now owns 14,761 shares of the company’s stock valued at $162,000 after buying an additional 1,166 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in CION Investment during the 1st quarter valued at approximately $37,000. Alpine Global Management LLC boosted its holdings in shares of CION Investment by 143.6% in the 1st quarter. Alpine Global Management LLC now owns 633,297 shares of the company’s stock valued at $6,966,000 after acquiring an additional 373,297 shares during the last quarter. Beck Capital Management LLC acquired a new stake in shares of CION Investment in the first quarter worth $260,000. Finally, Cetera Investment Advisers raised its holdings in shares of CION Investment by 2,340.1% during the first quarter. Cetera Investment Advisers now owns 524,131 shares of the company’s stock worth $5,765,000 after purchasing an additional 502,651 shares during the last quarter. 32.01% of the stock is currently owned by institutional investors and hedge funds.

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.