CION Investment Co. (NYSE:CION – Get Rating) announced a quarterly dividend on Friday, March 11th, Wall Street Journal reports. Investors of record on Wednesday, June 1st will be given a dividend of 0.28 per share on Wednesday, June 8th. This represents a $1.12 annualized dividend and a dividend yield of 9.80%. The ex-dividend date is Tuesday, May 31st. This is a positive change from CION Investment’s previous quarterly dividend of $0.26.
Shares of CION Investment stock opened at $11.43 on Friday. The business has a 50 day moving average of $12.06 and a 200 day moving average of $12.65. CION Investment has a 52 week low of $9.95 and a 52 week high of $15.09. The company has a market cap of $650.94 million and a PE ratio of 10.30.
CION Investment (NYSE:CION – Get Rating) last announced its earnings results on Thursday, May 12th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. CION Investment had a net margin of 47.28% and a return on equity of 8.18%.
In other news, CEO Mark Gatto acquired 5,000 shares of CION Investment stock in a transaction on Thursday, May 19th. The shares were acquired at an average price of $10.98 per share, with a total value of $54,900.00. Following the purchase, the chief executive officer now directly owns 32,806 shares in the company, valued at approximately $360,209.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Keith S. Franz bought 20,000 shares of the firm’s stock in a transaction dated Friday, May 13th. The shares were acquired at an average price of $10.50 per share, for a total transaction of $210,000.00. Following the completion of the transaction, the chief financial officer now directly owns 35,000 shares in the company, valued at approximately $367,500. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 26,500 shares of company stock valued at $284,010. 0.11% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Heirloom Wealth Management purchased a new stake in CION Investment in the first quarter worth about $151,000. Beacon Pointe Advisors LLC boosted its position in CION Investment by 90.5% during the 1st quarter. Beacon Pointe Advisors LLC now owns 24,920 shares of the company’s stock valued at $298,000 after acquiring an additional 11,839 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of CION Investment in the 1st quarter valued at $562,000. Goldman Sachs Group Inc. bought a new position in shares of CION Investment in the 1st quarter worth $1,533,000. Finally, UBS Group AG lifted its stake in shares of CION Investment by 888.7% during the 1st quarter. UBS Group AG now owns 26,852 shares of the company’s stock worth $397,000 after purchasing an additional 24,136 shares during the last quarter. Hedge funds and other institutional investors own 3.48% of the company’s stock.
Separately, Wells Fargo & Company lowered their target price on shares of CION Investment from $12.50 to $11.50 and set an “equal weight” rating for the company in a report on Monday, April 25th.
CION Investment Company Profile (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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