CION Investment (NYSE:CION) Issues Quarterly Earnings Results

CION Investment (NYSE:CION) released its earnings results on Thursday. The company reported $0.60 earnings per share (EPS) for the quarter, Zacks reports. The company had revenue of $73.55 million for the quarter. CION Investment had a net margin of 37.97% and a return on equity of 12.33%.

CION Investment Price Performance

Shares of CION traded up $0.22 during midday trading on Friday, reaching $12.13. 207,688 shares of the stock were exchanged, compared to its average volume of 285,648. CION Investment has a twelve month low of $9.16 and a twelve month high of $12.23. The company has a market capitalization of $653.08 million, a price-to-earnings ratio of 6.77 and a beta of 1.19. The business’s 50-day moving average price is $11.10 and its 200 day moving average price is $11.00.

CION Investment Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 22nd were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 11.21%. The ex-dividend date was Thursday, March 21st. CION Investment’s dividend payout ratio (DPR) is presently 77.27%.

Insider Transactions at CION Investment

In other news, insider Gregg A. Bresner acquired 4,000 shares of CION Investment stock in a transaction that occurred on Wednesday, March 20th. The stock was purchased at an average price of $10.78 per share, for a total transaction of $43,120.00. Following the completion of the transaction, the insider now directly owns 50,099 shares in the company, valued at $540,067.22. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have acquired 6,519 shares of company stock worth $70,760. Insiders own 0.44% 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.