Insider Buying: CION Investment Co. (NYSE:CION) Director Buys 1,000 Shares of Stock

CION Investment Co. (NYSE:CION) Director Robert A. Breakstone bought 1,000 shares of the stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $11.34 per share, with a total value of $11,340.00. Following the purchase, the director now owns 13,238 shares of the company’s stock, valued at approximately $150,118.92. This represents a 8.17 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

CION Investment Stock Performance

Shares of CION stock opened at $11.44 on Thursday. CION Investment Co. has a 1 year low of $10.52 and a 1 year high of $12.69. The stock has a market cap of $609.59 million, a PE ratio of 7.78 and a beta of 1.18. The business’s fifty day moving average is $11.77 and its 200-day moving average is $12.03.

CION Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.36 per share. 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 dividend payout ratio is presently 97.96%.

Wall Street Analyst Weigh In

CION has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price target on 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 assumed coverage on CION Investment in a report on Tuesday, October 8th. They issued a “market perform” rating and a $13.00 price target on the stock.

Institutional Investors Weigh In On CION Investment

Several large investors have recently modified their holdings of the stock. Concurrent Investment Advisors LLC boosted its stake in shares of CION Investment by 2.9% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 41,729 shares of the company’s stock worth $497,000 after acquiring an additional 1,190 shares in the last quarter. Endowment Wealth Management Inc. boosted its stake in shares of CION Investment by 2.3% during the 2nd quarter. Endowment Wealth Management Inc. now owns 56,841 shares of the company’s stock worth $689,000 after acquiring an additional 1,253 shares in the last quarter. Beck Capital Management LLC boosted its position in shares of CION Investment by 6.5% in 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 during the period. GPS Wealth Strategies Group LLC boosted its position in shares of CION Investment by 5.3% in 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 during the period. Finally, Townsquare Capital LLC boosted its position in shares of CION Investment by 7.0% in 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 during the period. 32.01% of the stock is owned by institutional investors.

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.