Cion investment corp chief legal officer buys $4,984 in shares

Eric A. Pinero, Chief Legal Officer of CION Investment Corp (NYSE:CION), recently acquired 465 shares of the company’s common stock. The shares were purchased at a price of $10.72 each, amounting to a total transaction value of $4,984. The purchase comes as CION trades near its 52-week low, with the stock down about 9.4% in the past week. According to InvestingPro analysis, CION currently appears undervalued. Following this acquisition, Pinero’s direct ownership in the company increased to 9,127.2 shares, which includes shares acquired under the company’s distribution reinvestment plan. The company, currently valued at $582 million, offers an attractive dividend yield of 14%. InvestingPro subscribers can access 8 additional key insights about CION’s financial health and growth prospects through the comprehensive Pro Research Report.

In other recent news, Cion Investment Corp reported its fourth-quarter and full-year 2024 earnings, aligning with analyst expectations by posting an earnings per share (EPS) of $0.35. The company exceeded revenue forecasts, achieving $57.89 million compared to the anticipated $54.11 million. Despite these positive results, Cion’s stock faced a decline in pre-market trading, influenced by investor concerns over future guidance and market conditions. The company’s total investment income for the year rose slightly to $252.4 million from the previous year’s $251 million, although net investment income saw a decline to $95.9 million or $1.79 per share, down from $1.92 in 2023. Cion maintained a robust balance sheet, with total assets of $1.9 billion and total equity of $821 million. The firm also continued its strategic investments in digital platforms and debt refinancing, while maintaining a defensive portfolio strategy with 86% in first lien investments. Additionally, Cion anticipates a cautious investment approach moving forward, with a projected base distribution of $0.36 per share for the first quarter of 2025. Analysts from Wells Fargo (NYSE:WFC) Securities and Lucid (NASDAQ:LCID) Capital Markets participated in the earnings call, raising questions about the company’s strategic transformations and market conditions.

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