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Gregg A. Bresner, President and Chief Investment Officer of CION Investment Corp (NYSE:CION), recently increased his stake in the company. According to a recent SEC filing, Bresner acquired a total of 2,000 shares over two transactions, with purchase prices ranging from $10.41 to $10.48 per share. The timing appears strategic, as InvestingPro data shows CION trading near its 52-week low of $10.14, while maintaining a robust 14.69% dividend yield. The total value of these transactions amounts to $20,890. Following these acquisitions, Bresner now holds 64,599 shares, which includes 14,500 shares held indirectly through certain investment retirement accounts. InvestingPro analysis reveals CION’s strong financial health with a current ratio of 2.22, indicating solid liquidity. For deeper insights into insider trading patterns and comprehensive financial analysis, discover CION’s detailed Pro Research Report, available exclusively on InvestingPro.
In other recent news, Cion Investment Corp reported its fourth-quarter and full-year 2024 earnings, meeting analyst expectations with an earnings per share (EPS) of $0.35. The company exceeded revenue forecasts, reporting $57.89 million, above the anticipated $54.11 million. Despite these positive results, Cion’s stock price saw a decline in pre-market trading, reflecting investor concerns over future guidance and market conditions. Cion maintained a defensive portfolio strategy with 86% of investments in first lien positions and continues to strategically invest in digital platforms and debt refinancing. The company’s total investment income for 2024 increased slightly to $252.4 million from $251 million in 2023, although net investment income declined to $95.9 million or $1.79 per share, compared to $1.92 in the previous year. Cion’s balance sheet remains strong with total assets of $1.9 billion and total equity of $821 million. Looking ahead, the company plans a cautious investment approach with a projected base distribution of $0.36 per share for the first quarter of 2025. Meanwhile, Cion’s ongoing share buyback reflects its view that shares are undervalued, having repurchased approximately 171,000 shares at an average price of $11.74 per share.
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