CION Investment Co. (NYSE:CION – Get Rating) CEO Michael A. Reisner bought 1,000 shares of the company’s stock in a transaction dated Wednesday, November 23rd. The stock was purchased at an average cost of $10.35 per share, for a total transaction of $10,350.00. Following the completion of the transaction, the chief executive officer now owns 38,397 shares of the company’s stock, valued at $397,408.95. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
CION Investment Price Performance
CION traded up $0.14 on Friday, reaching $10.43. 85,765 shares of the company traded hands, compared to its average volume of 200,636. The stock’s 50 day moving average price is $9.31 and its 200-day moving average price is $9.54. CION Investment Co. has a 52-week low of $7.83 and a 52-week high of $15.09. The company has a market cap of $578.10 million and a price-to-earnings ratio of 10.29.
CION Investment Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 8th. Investors of record on Thursday, December 1st will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 11.89%. The ex-dividend date of this dividend is Wednesday, November 30th. CION Investment’s payout ratio is presently 124.00%.
Analyst Upgrades and Downgrades
Separately, Wells Fargo & Company boosted their price objective on shares of CION Investment from $9.50 to $10.25 and gave the company an “overweight” rating in a research report on Friday, November 11th.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gradient Investments LLC grew its position in CION Investment by 221.4% during the third quarter. Gradient Investments LLC now owns 3,066 shares of the company’s stock valued at $26,000 after purchasing an additional 2,112 shares in the last quarter. Tyler Stone Wealth Management bought a new stake in CION Investment in the second quarter worth approximately $27,000. IAG Wealth Partners LLC bought a new stake in CION Investment in the second quarter worth approximately $29,000. Allworth Financial LP grew its position in CION Investment by 50.0% in the third quarter. Allworth Financial LP now owns 3,688 shares of the company’s stock worth $31,000 after acquiring an additional 1,229 shares in the last quarter. Finally, Almitas Capital LLC bought a new stake in CION Investment in the third quarter worth approximately $34,000. 17.75% of the stock is owned by hedge funds and other institutional investors.
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.
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