CION Investment Co. (NYSE:CION) Director Robert Breakstone Purchases 1,000 Shares

CION Investment Co. (NYSE:CION) Director Robert Breakstone bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average price of $11.34 per share, for a total transaction of $11,340.00. Following the acquisition, the director now directly owns 13,238 shares of the company’s stock, valued at $150,118.92. This represents a 8.17 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

CION Investment Stock Down 0.5 %

Shares of CION Investment stock traded down $0.06 on Tuesday, hitting $11.44. The stock had a trading volume of 42,808 shares, compared to its average volume of 226,940. CION Investment Co. has a twelve month low of $10.52 and a twelve month high of $12.69. The business’s 50 day moving average is $11.78 and its two-hundred day moving average is $12.03. The stock has a market cap of $609.64 million, a price-to-earnings ratio of 7.82 and a beta of 1.18.

CION Investment Dividend Announcement

The company also recently announced 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. This represents a $1.44 annualized dividend and a dividend yield of 12.59%. The ex-dividend date is Monday, December 2nd. CION Investment’s payout ratio is 97.96%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CION shares. 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. Oppenheimer started coverage on CION Investment in a research report on Tuesday, October 8th. They set a “market perform” rating and a $13.00 price target on the stock.

Hedge Funds Weigh In On CION Investment

Several institutional investors and hedge funds have recently made changes to their positions in the company. Concurrent Investment Advisors LLC grew its position in CION Investment by 2.9% during the third quarter. Concurrent Investment Advisors LLC now owns 41,729 shares of the company’s stock worth $497,000 after buying an additional 1,190 shares in the last quarter. Endowment Wealth Management Inc. grew its position in CION Investment by 2.3% during the second quarter. Endowment Wealth Management Inc. now owns 56,841 shares of the company’s stock worth $689,000 after buying an additional 1,253 shares in the last quarter. Beck Capital Management LLC grew its position in CION Investment by 6.5% during the third quarter. Beck Capital Management LLC now owns 29,511 shares of the company’s stock worth $351,000 after buying an additional 1,797 shares in the last quarter. GPS Wealth Strategies Group LLC grew its position in CION Investment by 5.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 37,893 shares of the company’s stock worth $459,000 after buying an additional 1,901 shares in the last quarter. Finally, Townsquare Capital LLC grew its position in CION Investment by 7.0% during the third quarter. Townsquare Capital LLC now owns 31,438 shares of the company’s stock worth $374,000 after buying an additional 2,061 shares in the last quarter. Institutional investors and hedge funds own 32.01% of the company’s stock.

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.