Robert A. Breakstone Buys 3,000 Shares of CION Investment Co. (NYSE:CION) Stock
CION Investment Co. (NYSE:CION – Get Rating) Director Robert A. Breakstone purchased 3,000 shares of the company’s stock in a transaction dated Thursday, June 2nd. The shares were purchased at an average price of $10.76 per share, for a total transaction of $32,280.00. Following the completion of the purchase, the director now owns 3,000 shares of the company’s stock, valued at $32,280. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
CION stock traded down $0.12 during trading on Monday, reaching $10.40. 9,538 shares of the company were exchanged, compared to its 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 cap 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 Rating) last announced its quarterly earnings results on Thursday, May 12th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. CION Investment had a net margin of 47.28% and a return on equity of 8.18%.
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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 8th. Shareholders of record on Wednesday, June 1st will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 10.77%. The ex-dividend date of this dividend is Tuesday, May 31st. 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 decreased their price objective on shares of CION Investment from $12.50 to $11.50 and set an “equal weight” rating on the stock in a report on Monday, April 25th.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Lenox Wealth Advisors LLC lifted its holdings in shares of CION Investment by 100.1% in the first quarter. Lenox Wealth Advisors LLC now owns 2,757 shares of the company’s stock valued at $34,000 after purchasing an additional 1,379 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted 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’s stock valued at $393,000 after buying an additional 1,536 shares during the period. Concourse Financial Group Securities Inc. purchased a new position in shares of CION Investment during the fourth quarter valued at approximately $26,000. Focused Wealth Management Inc purchased a new position in shares of CION Investment during the fourth quarter valued at approximately $42,000. Finally, Steward Partners Investment Advisory LLC purchased a new position in shares of CION Investment during the fourth quarter valued at approximately $44,000. 3.48% of the stock is currently owned by institutional investors.
About CION Investment (Get Rating)
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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