CION Investment Co. (NYSE:CION – Get Rating) shares saw strong trading volume on Friday . 399,548 shares were traded during mid-day trading, an increase of 139% from the previous session's volume of 166,969 shares.The stock last traded at $11.10 and had previously closed at $10.65.
Analyst Ratings Changes
Separately, Wells Fargo & Company raised their target price on shares of CION Investment from $9.50 to $10.25 and gave the company an "overweight" rating in a research note on Friday, November 11th.
Get CION Investment alerts:CION Investment Stock Up 4.4 %
The company has a market capitalization of $616.38 million, a price-to-earnings ratio of 11.12 and a beta of 1.49. The company's 50 day simple moving average is $10.36 and its two-hundred day simple moving average is $9.73.
CION Investment (NYSE:CION – Get Rating) last posted its quarterly earnings results on Thursday, November 10th. The company reported $0.45 earnings per share (EPS) for the quarter. The business had revenue of $54.16 million during the quarter. CION Investment had a net margin of 31.47% and a return on equity of 9.01%.CION Investment Increases Dividend
The business also recently declared a — dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Friday, December 30th will be issued a $0.27 dividend. The ex-dividend date is Thursday, December 29th. This represents a dividend yield of 11.8%. This is a boost from CION Investment's previous — dividend of $0.20. CION Investment's dividend payout ratio (DPR) is currently 124.00%.
Insiders Place Their Bets
In other CION Investment news, CFO Keith S. Franz bought 10,000 shares of CION Investment stock in a transaction that occurred on Wednesday, November 30th. The stock was purchased at an average price of $10.01 per share, with a total value of $100,100.00. Following the completion of the acquisition, the chief financial officer now directly owns 55,500 shares in the company, valued at approximately $555,555. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders purchased 12,000 shares of company stock valued at $120,550. Insiders own 0.25% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Denver Wealth Management Inc. purchased a new position in CION Investment in the fourth quarter valued at $166,000. Clear Harbor Asset Management LLC purchased a new position in CION Investment in the fourth quarter valued at $686,000. Private Trust Co. NA purchased a new position in CION Investment in the fourth quarter valued at $55,000. Diversified Trust Co purchased a new position in CION Investment in the fourth quarter valued at $209,000. Finally, Carmel Capital Partners LLC increased its holdings in CION Investment by 22.5% in the fourth quarter. Carmel Capital Partners LLC now owns 13,075 shares of the company's stock valued at $127,000 after buying an additional 2,405 shares in the last quarter. Hedge funds and other institutional investors own 27.22% of the company's stock.
About CION Investment
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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.
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