Brookstone Capital Management Cuts Stock Holdings in CION Investment Co. (NYSE:CION)

Brookstone Capital Management lessened its position in CION Investment Co. (NYSE:CION) by 15.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,898 shares of the company’s stock after selling 3,547 shares during the quarter. Brookstone Capital Management’s holdings in CION Investment were worth $208,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bulldog Investors LLP raised its holdings in CION Investment by 3.1% in the 4th quarter. Bulldog Investors LLP now owns 1,032,248 shares of the company’s stock valued at $11,675,000 after acquiring an additional 31,009 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of CION Investment by 10.3% in the fourth quarter. Van ECK Associates Corp now owns 993,940 shares of the company’s stock valued at $11,241,000 after purchasing an additional 92,882 shares during the last quarter. International Assets Investment Management LLC lifted its position in CION Investment by 1,056.3% during the fourth quarter. International Assets Investment Management LLC now owns 879,533 shares of the company’s stock worth $99,480,000 after buying an additional 803,469 shares in the last quarter. WealthPLAN Partners LLC boosted its stake in CION Investment by 9.8% during the fourth quarter. WealthPLAN Partners LLC now owns 513,804 shares of the company’s stock worth $5,811,000 after buying an additional 45,682 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. grew its holdings in CION Investment by 1,800.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 472,055 shares of the company’s stock valued at $4,990,000 after buying an additional 447,210 shares in the last quarter. Hedge funds and other institutional investors own 32.01% of the company’s stock.

Insider Buying and Selling at CION Investment

In related news, insider Gregg A. Bresner purchased 2,000 shares of CION Investment stock in a transaction dated Friday, May 17th. The shares were acquired at an average cost of $12.51 per share, with a total value of $25,020.00. Following the purchase, the insider now owns 52,099 shares of the company’s stock, valued at $651,758.49. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have purchased 3,660 shares of company stock valued at $44,983 over the last 90 days. 0.05% of the stock is owned by insiders.

CION Investment Price Performance

NYSE:CION opened at $12.34 on Thursday. The company’s 50-day moving average is $12.11 and its two-hundred day moving average is $11.44. The firm has a market capitalization of $661.30 million, a price-to-earnings ratio of 5.06 and a beta of 1.19. CION Investment Co. has a 1-year low of $9.65 and a 1-year high of $12.69.

CION Investment (NYSE:CION) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.60 EPS for the quarter. CION Investment had a return on equity of 12.53% and a net margin of 51.16%. The firm 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. Investors of record on Friday, June 28th will be given a dividend of $0.05 per share. This represents a dividend yield of 12%. The ex-dividend date is Friday, June 28th. CION Investment’s payout ratio is 59.02%.

Analysts Set New Price Targets

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

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.