Gregg A. Bresner Buys 2,000 Shares of CION Investment Co. (NYSE:CION) Stock

CION Investment Co. (NYSE:CION) insider Gregg A. Bresner bought 2,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were acquired 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 trade represents a 3.47 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

CION Investment Stock Performance

NYSE:CION traded up $0.06 during mid-day trading on Thursday, hitting $11.43. 163,656 shares of the company’s stock traded hands, compared to its average volume of 227,858. The company has a market capitalization of $608.84 million, a P/E ratio of 7.78 and a beta of 1.18. The company has a fifty day moving average of $11.79 and a 200 day moving average of $12.03. CION Investment Co. has a twelve month low of $10.52 and a twelve month high of $12.69.

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 paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.40 dividend on an annualized basis and a yield of 12.25%. CION Investment’s payout ratio is 97.96%.

Analyst Ratings Changes

CION has been the subject of a number of recent research reports. Oppenheimer started coverage on shares of CION Investment in a research note on Tuesday, October 8th. They issued a “market perform” rating and a $13.00 price objective for the company. Wells Fargo & Company dropped their price objective 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.

Institutional Investors Weigh In On CION Investment

Several institutional investors and hedge funds have recently made changes to their positions in CION. 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 purchased a new stake in shares of CION Investment in the 1st quarter valued at $37,000. Alpine Global Management LLC increased its stake in shares of CION Investment by 143.6% in the first quarter. Alpine Global Management LLC now owns 633,297 shares of the company’s stock worth $6,966,000 after acquiring an additional 373,297 shares during the period. Beck Capital Management LLC purchased a new position in shares of CION Investment during the first quarter worth $260,000. Finally, Cetera Investment Advisers lifted its position in CION Investment by 2,340.1% during the first quarter. Cetera Investment Advisers now owns 524,131 shares of the company’s stock valued at $5,765,000 after purchasing an additional 502,651 shares during the period. 32.01% of the stock is currently owned by institutional investors and hedge funds.

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.