Insider Buying: CION Investment Co. (NYSE:CION) Director Buys $11,340.00 in Stock

CION Investment Co. (NYSE:CION) Director Robert A. Breakstone acquired 1,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was purchased at an average price of $11.34 per share, for a total transaction of $11,340.00. Following the acquisition, the director now directly owns 13,238 shares in the company, valued at $150,118.92. This represents a 8.17 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

CION Investment Stock Performance

Shares of CION opened at $11.44 on Thursday. The stock has a 50-day simple moving average of $11.77 and a 200-day simple moving average of $12.03. The stock has a market capitalization of $609.59 million, a PE ratio of 7.78 and a beta of 1.18. CION Investment Co. has a 1 year low of $10.52 and a 1 year high of $12.69.

CION Investment Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 12.59%. The ex-dividend date is Monday, December 2nd. CION Investment’s dividend payout ratio (DPR) is 97.96%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CION shares. Wells Fargo & Company cut their target price on CION Investment from $12.00 to $11.50 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Oppenheimer initiated coverage on CION Investment in a research report on Tuesday, October 8th. They set a “market perform” rating and a $13.00 price objective for the company.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CION. Lazard Asset Management LLC acquired a new position in CION Investment during the first quarter worth $37,000. Quantbot Technologies LP purchased a new stake in shares of CION Investment in the third quarter valued at $104,000. Focused Wealth Management Inc purchased a new stake in shares of CION Investment in the third quarter valued at $120,000. Legacy Investment Solutions LLC purchased a new stake in shares of CION Investment in the third quarter valued at $124,000. Finally, Virtu Financial LLC purchased a new stake in shares of CION Investment in the third quarter valued at $127,000. Institutional investors and hedge funds own 32.01% of the company’s stock.

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.