Insider Buying: CION Investment Co. (NYSE:CION) Director Buys $19,840.00 in Stock

CION Investment Co. (NYSE:CIONGet Rating) Director Catherine Choi purchased 2,000 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were acquired at an average price of $9.92 per share, for a total transaction of $19,840.00. Following the completion of the acquisition, the director now directly owns 2,000 shares in the company, valued at approximately $19,840. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

CION Investment Price Performance

Shares of CION Investment stock opened at $9.87 on Friday. The business has a 50-day simple moving average of $9.65 and a 200 day simple moving average of $10.18. The firm has a market capitalization of $540.88 million, a price-to-earnings ratio of 51.95 and a beta of 1.34. CION Investment Co. has a one year low of $7.83 and a one year high of $11.57.

CION Investment (NYSE:CIONGet Rating) last issued its earnings results on Thursday, March 16th. The company reported $0.43 earnings per share for the quarter. CION Investment had a return on equity of 11.16% and a net margin of 5.14%. The company had revenue of $55.50 million for the quarter.

CION Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 13.78%. The ex-dividend date of this dividend is Wednesday, May 31st. CION Investment’s dividend payout ratio is currently 715.79%.

Analyst Ratings Changes

Separately, Wells Fargo & Company lowered shares of CION Investment from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $10.50 to $9.25 in a research note on Tuesday, April 18th.

Institutional Investors Weigh In On CION Investment

Several hedge funds and other institutional investors have recently made changes to their positions in the business. IAG Wealth Partners LLC boosted its stake in CION Investment by 86.5% during the 4th quarter. IAG Wealth Partners LLC now owns 3,396 shares of the company’s stock valued at $33,000 after purchasing an additional 1,575 shares during the last quarter. Almitas Capital LLC purchased a new stake in CION Investment in the 3rd quarter valued at $34,000. Joseph Group Capital Management bought a new position in CION Investment during the 3rd quarter valued at $36,000. Assetmark Inc. purchased a new position in CION Investment during the 1st quarter worth $38,000. Finally, Almanack Investment Partners LLC. bought a new stake in shares of CION Investment in the 3rd quarter worth $39,000. 27.22% of the stock is owned by institutional investors.

About CION Investment

(Get Rating)

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.

Further Reading

Insider Buying and Selling by Quarter for CION Investment (NYSE:CION)

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