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Greg A. Bressner, president and chief investment officer of CION Investment Corp. (NYSE:CION), has purchased 4,000 shares of the company's common stock, according to a recent filing with the U.S. Securities and Exchange Commission. . The transaction took place on March 20, 2024, with a total investment of approximately $43,120, and the shares were acquired at a weighted average price of $10.78 per share. Prices ranged from $10.77 to $10.79 per share.
This latest acquisition increases Mr. Blesner's direct ownership in the company to 50,099 shares. Notably, the filing includes a footnote indicating that this total includes 11,500 shares held in certain investment retirement accounts over which Mr. Blesner has sole voting and investment authority. include.
The acquisition reflects management's vote of confidence in the company's prospects. Investors often monitor insider transactions for insight into how management perceives a company's financial health and future performance.
New York-based CION Investment Corp. has not issued any public comment on the deal. Details of the purchases, including the number of shares purchased at each price point, will be provided to his SEC staff, the issuer, or the issuer's security holders upon request.
Investment Pro Insights
Broader financial metrics provide additional insight, as Greg A. Blesner, President and Chief Investment Officer of CION Investment Corp., has demonstrated his confidence in the company with his recent stock purchases. CION's commitment to shareholder value is evident through its consistent dividend increases. investment pro tips He emphasized that the company has increased its dividend for three consecutive years.
Additionally, CION's financial health is highlighted by its attractive valuation metrics. The company currently trades at a low earnings multiple, with a trailing-12-month adjusted P/E of just 5.49 and a PEG ratio of 0.06 as of Q4 2023, indicating strong growth potential relative to earnings. It shows that there is. Additionally, the company boasts a solid revenue growth of 28.79% over the same period.
Investors interested in more detailed analysis will find a wealth of additional information. investment pro tips You can find more information about your investment decisions on InvestingPro's dedicated company pages. He also has 5 more tips available, including analyst forecasts for the company's profitability this year and a note on the large dividend payout to shareholders.To further enhance your research experience, use our coupon code pro news 24 Get an extra 10% off annual or biennial Pro and Pro+ subscriptions.
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