CION Investment Co. (NYSE:CION) Shares Sold by Cooper Financial Group

Cooper Financial Group reduced its position in CION Investment Co. (NYSE:CION) by 6.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,113 shares of the company’s stock after selling 3,869 shares during the period. Cooper Financial Group owned approximately 0.11% of CION Investment worth $628,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tidemark LLC purchased a new stake in shares of CION Investment during the 4th quarter valued at about $26,000. Creekmur Asset Management LLC purchased a new stake in shares of CION Investment during the 4th quarter valued at about $42,000. LSV Asset Management purchased a new stake in shares of CION Investment during the 4th quarter valued at about $66,000. CWM LLC raised its holdings in shares of CION Investment by 56.7% during the 4th quarter. CWM LLC now owns 13,765 shares of the company’s stock valued at $156,000 after buying an additional 4,981 shares during the period. Finally, BlueChip Wealth Advisors LLC purchased a new stake in shares of CION Investment during the 4th quarter valued at about $171,000. 32.01% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Gregg A. Bresner purchased 2,000 shares of the stock in a transaction dated Friday, May 17th. The stock was acquired at an average cost of $12.51 per share, for a total transaction of $25,020.00. Following the acquisition, the insider now owns 52,099 shares of the company’s stock, valued at $651,758.49. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders have acquired 5,260 shares of company stock worth $62,628 in the last three months. 0.05% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company raised their target price on CION Investment from $11.50 to $12.00 and gave the company an “equal weight” rating in a report on Wednesday, May 15th.

CION Investment Stock Down 1.4 %

CION stock opened at $12.27 on Monday. CION Investment Co. has a 52-week low of $9.65 and a 52-week high of $12.69. The stock’s 50 day moving average is $11.96 and its two-hundred day moving average is $11.39. The company has a market capitalization of $657.55 million, a PE ratio of 5.03 and a beta of 1.21.

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

CION Investment Announces Dividend

The firm also recently disclosed a Variable dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a yield of 12%. 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.