CION Investment Co. (NYSE: CION – Get a rating) Director Robert A. Breakstone purchased 3,000 shares of the company in a trade dated Thursday, June 2. The shares were purchased at an average price of $10.76 per share, for a total transaction of $32,280.00. After the purchase was completed, the director now owns 3,000 shares of the company, valued at $32,280. The transaction was disclosed in a legal filing with the SEC, which is available via this link.
CION stock was down $0.12 during Monday’s trading, hitting $10.40. 9,538 shares of the company were traded, against an average volume of 136,505. CION Investment Co. has a 52-week low of $9.95 and a 52-week high of $15.09. The company has a market capitalization of $592.26 million and a P/E ratio of 9.48. The stock’s 50-day moving average price is $11.70 and its 200-day moving average price is $12.58.
CION Investment (NYSE:CION- Get a rating) last announced its quarterly results on Thursday, May 12. The company reported earnings per share (EPS) of $0.34 for the quarter, beating the consensus estimate of $0.33 by $0.01. CION Investment posted a net margin of 47.28% and a return on equity of 8.18%.
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The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 8. Shareholders of record on Wednesday, June 1 will receive a dividend of $0.28. This represents an annualized dividend of $1.12 and a dividend yield of 10.77%. The ex-dividend date is Tuesday, May 31. This is an increase from CION Investment’s previous quarterly dividend of $0.26. CION Investment’s dividend payout ratio is 100.90%.
Separately, Wells Fargo & Company lowered its price target on CION Investment shares from $12.50 to $11.50 and set an “equal weight” rating on the stock in a Monday, April 25 report. .
Several hedge funds and other institutional investors have recently changed their positions in the company. Lenox Wealth Advisors LLC increased its holdings of CION Investment shares by 100.1% in the first quarter. Lenox Wealth Advisors LLC now owns 2,757 shares of the company valued at $34,000 after purchasing an additional 1,379 shares last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of CION Investment by 6.1% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 26,571 shares of the company valued at $393,000 after purchasing an additional 1,536 shares during the period. Concourse Financial Group Securities Inc. bought a new stock position in CION Investment during the fourth quarter worth approximately $26,000. Focused Wealth Management Inc bought a new position in shares of CION Investment during the fourth quarter, valued at approximately $42,000. Finally, Steward Partners Investment Advisory LLC bought a new stock position in CION Investment during the fourth quarter worth approximately $44,000. 3.48% of the stock is currently held by institutional investors.
About CION Investment (Get a rating)
CION Investment Corporation is a business development company. It specializes in investments in senior secured loans, including unitranche loans, first lien loans, 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.
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