158,004 Shares in CION Investment Co. (NYSE:CION) Purchased by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC purchased a new position in CION Investment Co. (NYSE:CION) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 158,004 shares of the company’s stock, valued at approximately $1,680,000. HighPoint Advisor Group LLC owned approximately 0.29% of CION Investment at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tidemark LLC bought a new stake in CION Investment in the fourth quarter worth about $26,000. Creekmur Asset Management LLC bought a new stake in CION Investment in the fourth quarter worth about $42,000. LSV Asset Management bought a new stake in CION Investment in the fourth quarter worth about $66,000. CWM LLC lifted its stake in CION Investment by 56.7% in the fourth quarter. CWM LLC now owns 13,765 shares of the company’s stock worth $156,000 after purchasing an additional 4,981 shares during the last quarter. Finally, BlueChip Wealth Advisors LLC bought a new stake in CION Investment in the fourth quarter worth about $171,000. Hedge funds and other institutional investors own 32.01% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company raised their price objective on shares of CION Investment from $11.50 to $12.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 15th.

Insider Activity

In other CION Investment news, insider Gregg A. Bresner acquired 2,000 shares of CION Investment stock in a transaction that occurred on Friday, May 17th. The stock was bought at an average price of $12.51 per share, with a total value of $25,020.00. Following the completion of the purchase, the insider now directly owns 52,099 shares of the company’s stock, valued at approximately $651,758.49. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders purchased 5,729 shares of company stock valued at $67,623. Corporate insiders own 0.05% of the company’s stock.

CION Investment Price Performance

Shares of NYSE CION opened at $12.37 on Wednesday. The company has a market cap of $662.91 million, a P/E ratio of 5.07 and a beta of 1.21. CION Investment Co. has a 1 year low of $9.65 and a 1 year high of $12.69. The firm has a 50-day simple moving average of $11.87 and a two-hundred day simple moving average of $11.35.

CION Investment (NYSE:CION) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.60 earnings per share for the quarter. CION Investment had a net margin of 51.16% and a return on equity of 12.53%. The firm had revenue of $73.55 million during the quarter.

CION Investment Announces Dividend

The business also recently declared a Variable dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.05 per share. This represents a dividend yield of 12%. The ex-dividend date of this dividend is Friday, June 28th. CION Investment’s dividend payout ratio is presently 59.02%.

CION Investment 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.