BlueChip Wealth Advisors LLC Buys New Stake in CION Investment Co. (NYSE:CION)

BlueChip Wealth Advisors LLC bought a new stake in CION Investment Co. (NYSE:CION) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 15,082 shares of the company’s stock, valued at approximately $171,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. International Assets Investment Management LLC lifted its stake in shares of CION Investment by 1,056.3% during the 4th quarter. International Assets Investment Management LLC now owns 879,533 shares of the company’s stock worth $99,480,000 after purchasing an additional 803,469 shares during the period. WealthPlan Investment Management LLC lifted its stake in shares of CION Investment by 883,149.1% during the 3rd quarter. WealthPlan Investment Management LLC now owns 468,122 shares of the company’s stock worth $4,948,000 after purchasing an additional 468,069 shares during the period. Financial Gravity Asset Management Inc. lifted its stake in shares of CION Investment by 1,800.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 472,055 shares of the company’s stock worth $4,990,000 after purchasing an additional 447,210 shares during the period. Alpine Global Management LLC increased its holdings in shares of CION Investment by 181.4% during the 3rd quarter. Alpine Global Management LLC now owns 180,849 shares of the company’s stock worth $1,912,000 after buying an additional 116,579 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of CION Investment by 10.3% during the 4th quarter. Van ECK Associates Corp now owns 993,940 shares of the company’s stock worth $11,241,000 after buying an additional 92,882 shares during the last quarter. Hedge funds and other institutional investors own 32.01% of the company’s stock.

CION Investment Stock Up 1.2 %

Shares of CION stock traded up $0.14 on Monday, reaching $12.31. 232,823 shares of the stock were exchanged, compared to its average volume of 279,017. The stock has a market cap of $659.69 million, a P/E ratio of 5.05 and a beta of 1.21. The firm has a 50 day moving average of $11.85 and a two-hundred day moving average of $11.34. CION Investment Co. has a 1-year low of $9.65 and a 1-year high of $12.69.

CION Investment (NYSE:CION) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.60 earnings per share (EPS) for the quarter. CION Investment had a return on equity of 12.53% and a net margin of 51.16%. The firm had revenue of $73.55 million during the quarter.

CION Investment Announces Dividend

The business also recently declared a Variable dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a yield of 12%. CION Investment’s dividend payout ratio is currently 59.02%.

Insider Activity at CION Investment

In other news, insider Gregg A. Bresner acquired 2,000 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was bought at an average cost of $12.51 per share, with a total value of $25,020.00. Following the transaction, the insider now directly owns 52,099 shares in the company, valued at approximately $651,758.49. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Gregg A. Bresner acquired 2,000 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was bought at an average cost of $12.51 per share, with a total value of $25,020.00. Following the transaction, the insider now directly owns 52,099 shares in the company, valued at approximately $651,758.49. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gregg A. Bresner acquired 4,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was purchased at an average cost of $10.78 per share, with a total value of $43,120.00. Following the completion of the transaction, the insider now owns 50,099 shares in the company, valued at $540,067.22. The disclosure for this purchase can be found here. In the last three months, insiders purchased 9,729 shares of company stock worth $110,743. Corporate insiders own 0.05% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company upped their price objective on CION Investment from $11.50 to $12.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 15th.

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.