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Brookstone Capital Management Takes Position in CION Investment Co. (NYSE:CION)

Defense World · Dec 27, 2022 04:41

Brookstone Capital Management acquired a new stake in CION Investment Co. (NYSE:CION – Get Rating) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,393 shares of the company's stock, valued at approximately $147,000.

Several other institutional investors have also modified their holdings of the company. Tyler Stone Wealth Management purchased a new stake in shares of CION Investment during the second quarter valued at $27,000. IAG Wealth Partners LLC purchased a new stake in shares of CION Investment during the second quarter valued at $29,000. Atticus Wealth Management LLC lifted its holdings in shares of CION Investment by 1,065.3% during the second quarter. Atticus Wealth Management LLC now owns 5,535 shares of the company's stock valued at $48,000 after purchasing an additional 5,060 shares during the last quarter. Focused Wealth Management Inc lifted its holdings in shares of CION Investment by 115.3% during the second quarter. Focused Wealth Management Inc now owns 6,940 shares of the company's stock valued at $60,000 after purchasing an additional 3,716 shares during the last quarter. Finally, Captrust Financial Advisors lifted its holdings in shares of CION Investment by 84.4% during the second quarter. Captrust Financial Advisors now owns 7,317 shares of the company's stock valued at $64,000 after purchasing an additional 3,350 shares during the last quarter. Institutional investors and hedge funds own 27.22% of the company's stock.

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CION Investment Trading Down 0.1 %

Shares of CION Investment stock opened at $10.29 on Tuesday. The stock has a 50-day moving average price of $9.95 and a 200 day moving average price of $9.46. The company has a market cap of $570.34 million, a P/E ratio of 10.29 and a beta of 1.56. CION Investment Co. has a 1 year low of $7.83 and a 1 year high of $15.09.

CION Investment Increases Dividend

The firm also recently disclosed a — dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, December 30th will be paid a $0.27 dividend. This is an increase from CION Investment's previous — dividend of $0.20. This represents a yield of 11.8%. The ex-dividend date of this dividend is Thursday, December 29th. CION Investment's dividend payout ratio is currently 124.00%.

Insider Buying and Selling

In other CION Investment news, CFO Keith S. Franz acquired 10,000 shares of CION Investment stock in a transaction that occurred on Wednesday, November 30th. The stock was purchased at an average cost of $10.01 per share, with a total value of $100,100.00. Following the purchase, the chief financial officer now owns 55,500 shares in the company, valued at $555,555. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders acquired 12,000 shares of company stock valued at $120,550. Corporate insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company upped their target price on CION Investment from $9.50 to $10.25 and gave the company an "overweight" rating in a report on Friday, November 11th.

CION Investment Company Profile

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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.