CION Investment Co. (NYSE:CION) Short Interest Update

CION Investment Co. (NYSE:CION) was the target of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 78,200 shares, an increase of 26.9% from the May 31st total of 61,600 shares. Based on an average daily volume of 243,800 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.2% of the shares of the company are sold short.

Analyst Ratings Changes

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

CION Investment Trading Up 0.2 %

NYSE CION opened at $12.15 on Tuesday. CION Investment has a 12 month low of $9.65 and a 12 month high of $12.69. The stock has a market cap of $651.12 million, a price-to-earnings ratio of 4.98 and a beta of 1.19. The company’s 50 day moving average is $12.07 and its two-hundred day moving average is $11.43.

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

CION Investment Dividend Announcement

The firm also recently disclosed a Variable dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a $0.05 dividend. This represents a dividend yield of 12%. The ex-dividend date is Friday, June 28th. CION Investment’s dividend payout ratio (DPR) is 59.02%.

Insider Buying and Selling at CION Investment

In other CION Investment news, insider Gregg A. Bresner acquired 2,000 shares of the stock in a transaction dated Friday, May 17th. The shares were purchased at an average price of $12.51 per share, for a total transaction of $25,020.00. Following the purchase, the insider now directly 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 bought a total of 3,660 shares of company stock worth $44,983 in the last three months. 0.05% of the stock is currently owned by company insiders.

Institutional Trading of CION Investment

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tidemark LLC purchased a new stake in CION Investment during the 4th quarter valued at approximately $26,000. YHB Investment Advisors Inc. purchased a new position in CION Investment during the first quarter valued at $27,000. Lazard Asset Management LLC bought a new stake in CION Investment in the 1st quarter valued at $37,000. Creekmur Asset Management LLC bought a new position in shares of CION Investment during the 4th quarter valued at about $42,000. Finally, LSV Asset Management purchased a new position in shares of CION Investment during the fourth quarter valued at about $66,000. Institutional investors own 32.01% of the company’s stock.

About CION Investment

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.