CION Investment Co. (NYSE:CION – Get Rating) saw a large increase in short interest in December. As of December 15th, there was short interest totalling 52,600 shares, an increase of 107.9% from the November 30th total of 25,300 shares. Based on an average trading volume of 291,800 shares, the days-to-cover ratio is presently 0.2 days.
Analysts Set New Price Targets
Separately, Wells Fargo & Company increased 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.
Insider Buying and Selling at CION Investment
In other CION Investment news, CFO Keith S. Franz bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 30th. The shares were 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 directly owns 55,500 shares in the company, valued at $555,555. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought a total of 12,000 shares of company stock valued at $120,550 in the last three months. 0.25% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On CION Investment
Hedge funds have recently modified their holdings of the stock. WealthPlan Investment Management LLC purchased a new position in CION Investment during the third quarter worth about $3,811,000. Centaurus Financial Inc. acquired a new position in CION Investment during the 3rd quarter worth approximately $134,000. IHT Wealth Management LLC raised its stake in shares of CION Investment by 38.6% during the 3rd quarter. IHT Wealth Management LLC now owns 44,987 shares of the company’s stock worth $382,000 after buying an additional 12,529 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of CION Investment by 215.8% in the 3rd quarter. Captrust Financial Advisors now owns 23,109 shares of the company’s stock valued at $196,000 after buying an additional 15,792 shares during the period. Finally, Almanack Investment Partners LLC. purchased a new stake in shares of CION Investment in the third quarter valued at approximately $39,000. 27.22% of the stock is owned by institutional investors and hedge funds.
CION Investment Stock Down 2.9 %
NYSE:CION traded down $0.29 during trading hours on Thursday, reaching $9.75. 244,717 shares of the company’s stock were exchanged, compared to its average volume of 217,511. CION Investment has a 1-year low of $7.83 and a 1-year high of $15.09. The firm has a market capitalization of $540.41 million, a price-to-earnings ratio of 9.72 and a beta of 1.56. The company has a 50-day moving average of $10.00 and a 200 day moving average of $9.46.
CION Investment Increases Dividend
The business also recently announced a — dividend, which will be paid on Tuesday, January 31st. Shareholders 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 dividend yield of 11.8%. The ex-dividend date of this dividend is Thursday, December 29th. CION Investment’s dividend payout ratio (DPR) is 124.00%.
CION Investment Company 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.