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Financial Services - Asset Management - NYSE - US
$ 11.34
-0.787 %
$ 604 M
Market Cap
7.77
P/E
1. INTRINSIC VALUE

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. The firm invests in growth capital, acquisitions, leveraged buyouts, market/product expansion, refinancing and recapitalization. The fund also invests up to 30 percent of their assets opportunistically in other types of investments, including the securities of larger public companies and foreign securities. It also makes investments in the secondary loan market. The fund does not invest in start-up companies, turnaround situations, or companies with speculative business plans.[ Read More ]

The intrinsic value of one CION stock under the base case scenario is HIDDEN Compared to the current market price of 11.3 USD, CION Investment Corporation is HIDDEN

2. FUNDAMENTAL ANALYSIS

Price Chart CION

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FINANCIALS
251 M REVENUE
310.56%
181 M OPERATING INCOME
80.57%
95.3 M NET INCOME
90.09%
-97.2 M OPERATING CASH FLOW
-275.39%
0 INVESTING CASH FLOW
100.00%
22.8 M FINANCING CASH FLOW
-47.75%
59.6 M REVENUE
45.15%
21.6 M OPERATING INCOME
-53.21%
21.6 M NET INCOME
0.00%
52 M OPERATING CASH FLOW
657.63%
0 INVESTING CASH FLOW
100.00%
-32 M FINANCING CASH FLOW
-45.88%
Balance Sheet Decomposition CION Investment Corporation
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Current Assets 161 M
Cash & Short-Term Investments 122 M
Receivables 37.7 M
Other Current Assets 1.35 M
Non-Current Assets 1.95 B
Long-Term Investments 1.95 B
PP&E 0
Other Non-Current Assets 0
Current Liabilities 26.8 M
Accounts Payable 26.8 M
Short-Term Debt 0
Other Current Liabilities 0
Non-Current Liabilities 1.08 B
Long-Term Debt 1.08 B
Other Non-Current Liabilities 0
EFFICIENCY
Earnings Waterfall CION Investment Corporation
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Revenue 251 M
Cost Of Revenue 85.9 M
Gross Profit 165 M
Operating Expenses 107 M
Operating Income 181 M
Other Expenses 85.5 M
Net Income 95.3 M
RATIOS
65.76% GROSS MARGIN
65.76%
72.04% OPERATING MARGIN
72.04%
37.97% NET MARGIN
37.97%
10.84% ROE
10.84%
4.76% ROA
4.76%
9.22% ROIC
9.22%
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis CION Investment Corporation
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Net Income 95.3 M
Depreciation & Amortization -22.2 M
Capital Expenditures 0
Stock-Based Compensation 0
Change in Working Capital -8.47 M
Others -175 M
Free Cash Flow -97.2 M
3. WALL STREET ANALYSTS ESTIMATES
Wall Street Analysts Price Targets CION Investment Corporation
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Wall Street analysts predict an average 1-year price target for CION of $13 , with forecasts ranging from a low of $13 to a high of $13 .
CION Lowest Price Target Wall Street Target
13 USD 14.64%
CION Average Price Target Wall Street Target
13 USD 14.64%
CION Highest Price Target Wall Street Target
13 USD 14.64%
4. DIVIDEND ANALYSIS
1.54% DIVIDEND YIELD
0.35 USD DIVIDEND PER SHARE
5. COMPETITION
6. Ownership
Insider Ownership CION Investment Corporation
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Sold
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
0 USD 0
Bought
41.8 K USD 4
0-3 MONTHS
99.4 K USD 5
3-6 MONTHS
74.7 K USD 5
6-9 MONTHS
18.1 K USD 3
9-12 MONTHS
Date Value Insider Amount Avg Price
5 days ago
Nov 12, 2024
Bought 22.8 K USD
BRESNER GREGG A.
President & CIO
+ 2000
11.41 USD
5 days ago
Nov 12, 2024
Bought 8.54 K USD
Arestia Charlie
See Remarks
+ 750
11.39 USD
2 months ago
Aug 26, 2024
Bought 4.93 K USD
Reisner Michael A
Co-Chairman & Co-CEO
+ 400
12.33 USD
2 months ago
Aug 21, 2024
Bought 5.48 K USD
ROMAN STEPHEN
CCO & Secretary
+ 450
12.18 USD
3 months ago
Aug 15, 2024
Bought 30.2 K USD
BRESNER GREGG A.
President & CIO
+ 2500
12.08 USD
3 months ago
Aug 14, 2024
Bought 12 K USD
BRESNER GREGG A.
President & CIO
+ 1000
12.05 USD
3 months ago
Aug 15, 2024
Bought 4.89 K USD
Pinero Eric A.
Chief Legal Officer
+ 402
12.16 USD
3 months ago
Aug 12, 2024
Bought 5.37 K USD
Arestia Charlie
See Remarks
+ 450
11.94 USD
3 months ago
Aug 12, 2024
Bought 11.9 K USD
Breakstone Robert A
Director
+ 1000
11.89 USD
5 months ago
May 28, 2024
Bought 5.01 K USD
Pinero Eric A.
Chief Legal Officer
+ 403
12.42 USD
5 months ago
May 22, 2024
Bought 4.96 K USD
ROMAN STEPHEN
CCO & Secretary
+ 400
12.41 USD
6 months ago
May 17, 2024
Bought 25 K USD
BRESNER GREGG A.
President & CIO
+ 2000
12.51 USD
6 months ago
May 13, 2024
Bought 4.99 K USD
Reisner Michael A
Co-Chairman & Co-CEO
+ 407
12.27 USD
7 months ago
Apr 05, 2024
Bought 5 K USD
Pinero Eric A.
Chief Legal Officer
+ 450
11.11 USD
7 months ago
Apr 01, 2024
Bought 4.97 K USD
ROMAN STEPHEN
CCO & Secretary
+ 450
11.05 USD
7 months ago
Mar 27, 2024
Bought 11 K USD
Gatto Mark
Co-Chairman & Co-CEO
+ 1000
11.02 USD
7 months ago
Mar 27, 2024
Bought 551 USD
Gatto Mark
Co-Chairman & Co-CEO
+ 50
11.02 USD
7 months ago
Mar 25, 2024
Bought 4.99 K USD
Reisner Michael A
Co-Chairman & Co-CEO
+ 469
10.65 USD
7 months ago
Mar 20, 2024
Bought 43.1 K USD
BRESNER GREGG A.
President & CIO
+ 4000
10.78 USD
11 months ago
Nov 27, 2023
Bought 3.26 K USD
FINLAY PETER I.
Director
+ 300
10.88 USD
1 year ago
Nov 16, 2023
Bought 10 K USD
Gatto Mark
Co-Chairman & Co-CEO
+ 905
11.05 USD
1 year ago
Nov 15, 2023
Bought 4.8 K USD
Reisner Michael A
Co-Chairman & Co-CEO
+ 434
11.06 USD
1 year ago
Aug 22, 2023
Bought 5.01 K USD
Reisner Michael A
Co-Chairman & Co-CEO
+ 460
10.89 USD
1 year ago
Jun 01, 2023
Bought 150 K USD
Franz Keith S
CFO & Treasurer
+ 15715
9.52 USD
1 year ago
Jun 01, 2023
Bought 9.58 K USD
BRESNER GREGG A.
President & CIO
+ 1000
9.58 USD
1 year ago
May 31, 2023
Bought 9.32 K USD
BRESNER GREGG A.
President & CIO
+ 1000
9.32 USD
1 year ago
May 26, 2023
Bought 19.8 K USD
BRESNER GREGG A.
President & CIO
+ 2000
9.9 USD
1 year ago
May 25, 2023
Bought 9.81 K USD
BRESNER GREGG A.
President & CIO
+ 1000
9.81 USD
1 year ago
May 24, 2023
Bought 9.91 K USD
BRESNER GREGG A.
President & CIO
+ 1000
9.91 USD
1 year ago
May 22, 2023
Bought 19.8 K USD
Choi Catherine
Director
+ 2000
9.92 USD
1 year ago
May 19, 2023
Bought 4.89 K USD
Reisner Michael A
Co-Chairman & Co-CEO
+ 500
9.78 USD
1 year ago
May 15, 2023
Bought 10.2 K USD
ROMAN STEPHEN
CCO & Secretary
+ 1100
9.26 USD
1 year ago
May 15, 2023
Bought 18.5 K USD
Schwartz Aron I
Director
+ 2000
9.25 USD
1 year ago
May 12, 2023
Bought 22.3 K USD
Breakstone Robert A
Director
+ 2395
9.33 USD
1 year ago
May 12, 2023
Bought 10.1 K USD
Pinero Eric A.
Chief Legal Officer
+ 1070
9.42 USD
1 year ago
Nov 30, 2022
Bought 10.1 K USD
Breakstone Robert A
Director
+ 1000
10.1 USD
1 year ago
Nov 30, 2022
Bought 100 K USD
Franz Keith S
CFO & Treasurer
+ 10000
10.01 USD
1 year ago
Nov 23, 2022
Bought 10.4 K USD
Reisner Michael A
Co-Chairman & Co-CEO
+ 1000
10.35 USD
1 year ago
Nov 22, 2022
Bought 10.2 K USD
FINLAY PETER I.
Director
+ 1000
10.25 USD
2 years ago
Sep 01, 2022
Bought 27.5 K USD
BRESNER GREGG A.
President & CIO
+ 3000
9.17 USD
2 years ago
Aug 30, 2022
Bought 10.2 K USD
BRESNER GREGG A.
President & CIO
+ 1000
10.2 USD
2 years ago
Aug 30, 2022
Bought 82.2 K USD
Franz Keith S
CFO & Treasurer
+ 8000
10.28 USD
2 years ago
Sep 01, 2022
Bought 28 K USD
Pinero Eric A.
Chief Legal Officer
+ 3000
9.32 USD
2 years ago
Aug 22, 2022
Bought 51.4 K USD
Gatto Mark
Co-Chairman & Co-CEO
+ 5000
10.29 USD
2 years ago
Aug 23, 2022
Bought 52.4 K USD
Reisner Michael A
Co-Chairman & Co-CEO
+ 5000
10.47 USD
2 years ago
Aug 18, 2022
Bought 6.72 K USD
FINLAY PETER I.
director:
+ 640
10.5 USD
2 years ago
Aug 15, 2022
Bought 51.4 K USD
BRESNER GREGG A.
President & CIO
+ 5000
10.29 USD
2 years ago
Aug 17, 2022
Bought 30.7 K USD
ROMAN STEPHEN
CCO & Secretary
+ 3000
10.22 USD
2 years ago
Aug 16, 2022
Bought 20.2 K USD
Breakstone Robert A
director:
+ 2000
10.08 USD
2 years ago
Jun 02, 2022
Bought 32.3 K USD
Breakstone Robert A
director:
+ 3000
10.76 USD
2 years ago
May 31, 2022
Bought 3.95 K USD
FINLAY PETER I.
director:
+ 360
10.97 USD
2 years ago
May 19, 2022
Bought 54.9 K USD
Gatto Mark
Co-Chairman & Co-CEO
+ 5000
10.98 USD
2 years ago
May 19, 2022
Bought 50.3 K USD
Reisner Michael A
Co-Chairman & Co-CEO
+ 4591
10.95 USD
2 years ago
May 18, 2022
Bought 11.2 K USD
BRESNER GREGG A.
President & CIO
+ 1000
11.2 USD
2 years ago
May 13, 2022
Bought 210 K USD
Franz Keith S
CFO & Treasurer
+ 20000
10.5 USD
2 years ago
Mar 11, 2022
Bought 19.1 K USD
Pinero Eric A.
Chief Legal Officer
+ 1500
12.74 USD
2 years ago
Nov 24, 2021
Bought 141 K USD
Franz Keith S
CFO & Treasurer
+ 10000
14.13 USD
2 years ago
Nov 23, 2021
Bought 67.5 K USD
Franz Keith S
CFO & Treasurer
+ 5000
13.5 USD
2 years ago
Nov 23, 2021
Bought 50.1 K USD
Estrada Edward J.
Director
+ 3695
13.57 USD
2 years ago
Nov 23, 2021
Bought 43.3 K USD
BRESNER GREGG A.
President & CIO
+ 3200
13.54 USD
3 years ago
Nov 18, 2021
Bought 20 K USD
BRESNER GREGG A.
President & CIO
+ 1500
13.31 USD
3 years ago
Nov 18, 2021
Bought 67 K USD
BRESNER GREGG A.
President & CIO
+ 5130
13.06 USD
3 years ago
Nov 17, 2021
Bought 69.6 K USD
BRESNER GREGG A.
President & CIO
+ 5269
13.21 USD
3 years ago
Nov 17, 2021
Bought 40 K USD
ROMAN STEPHEN
CCO & Secretary
+ 3000
13.32 USD
11 years ago
Dec 17, 2012
Bought 1 M USD
Reisner Michael A
Co-CEO and Co-President
+ 111111.11
9 USD
11 years ago
Dec 17, 2012
Bought 1 M USD
Gatto Mark
Co-CEO and Co-President
+ 111111.11
9 USD
11 years ago
Dec 17, 2012
Bought 1 M USD
ICON Investment Group, LLC
10 percent owner
+ 111111.11
9 USD
7. News
CION Investment Corporation: 12.5% Yield, P/NAV Of 0.73x Makes It A Buy CION Investment Corporation is a deeply discounted high yield play. The market is concerned about CION's PIK and portfolio volatility. Looking at the fundamentals, I simply can't rationalize the ~27% discount to NAV. seekingalpha.com - 6 days ago
CION Investment Corporation (CION) Q3 2024 Earnings Call Transcript CION Investment Corporation (NYSE:CION ) Q3 2024 Earnings Conference Call November 7, 2024 11:00 AM ET Company Participants Charlie Arestia - Managing Director and Head, Investor Relations Mark Gatto - Co-Chief Executive Officer Gregg Bresner - President and CIO Keith Franz - Chief Financial Officer Conference Call Participants Operator Greetings. And welcome to the CION Investment Corporation's Third Quarter 2024 Conference Call. seekingalpha.com - 1 week ago
New Preferred Stock And Exchange Traded Debt IPOs, October 2024 September saw two new convertible preferred stock offerings, one term preferred offering, and one Exchange Traded Debt (ETD) offering, with yields ranging from 6% to 8.125%. Here is a comparison against the highest quality preferred stocks in our coverage universe, as ranked by our internal “CDx3 Compliance Score” metric: CDx3 preferreds ranked 10 out of 10 are meanwhile selling for an average premium to par of about 7 cents and offer an average current yield of 6.23%. seekingalpha.com - 2 weeks ago
2 BDCs Everyone Seems To Overlook CION Investment Corp. and Chicago Atlantic BDC are overlooked small-cap BDCs that offer high yields for dividend investors. CION has strong fundamentals, solid dividend coverage, and trades at a 26% discount to NAV, making it an attractive entry point. Chicago Atlantic BDC, the only cannabis-focused BDC, has diversified its portfolio, boasts a clean balance sheet, and trades at a slight discount. seekingalpha.com - 1 month ago
Invest In All Weather BDC Dividend Portfolio The All Weather Portfolio concept introduced by Ray Dalio aims for stable returns through largely uncorrelated investment exposures. In this article, I have tried to apply the essence of such a construct for BDC dividend-seeking investments. The sample portfolio, which is presented in the article, consists of three structural layers that are not that correlated and offer different risk and reward profiles. seekingalpha.com - 1 month ago
Good News For BDCs I have been bearish on BDCs for a while, and this caution has paid off. However, some good news just arrived for the sector. I discuss what this is and share some of my top picks of the moment in light of this good news. seekingalpha.com - 1 month ago
CION Investment Corp: A Quality BDC Worth Buying, Although Upside May Be Limited CION Investment Corp remains undervalued, trading at a 34% discount to its NAV despite solid fundamentals and solid dividend coverage. The BDC's smaller size and shorter track record may be a contributor to its market mispricing compared to larger, more established peers. CION's portfolio performance has been resilient, with high credit quality and decreasing non-accruals year-over-year, despite higher for longer interest rates. seekingalpha.com - 1 month ago
CION Investment Corporation Announces Pricing of Public Offering of Unsecured Notes Due 2029 NEW YORK--(BUSINESS WIRE)--CION Investment Corporation (NYSE: CION) (the “Company” or “CION”) announced today that it has priced an underwritten public offering of $150.0 million aggregate principal amount of unsecured notes due 2029 (the “Notes”), which will result in net proceeds to the Company of approximately $145.4 million after the payment of underwriting discounts and commissions and estimated offering expenses payable by the Company. The Notes will mature on December 30, 2029 and may be. businesswire.com - 1 month ago
2 BDCs At Discounts Of ~20% With Attractive Asymmetric Profiles This is not the right time to take high risk in the BDC space. Yet, as it is often the case, a challenging environment creates opportunities. In this article, I elaborate on two BDCs which indeed have some risks, but not to the extent that is currently priced in by the market. seekingalpha.com - 1 month ago
CION Investments and GCM Grosvenor Form Strategic Partnership Focused on Developing Private Market Investment Solutions NEW YORK--(BUSINESS WIRE)--CION Investments (CION), a leading alternative investment solutions platform, and GCM Grosvenor, (NASDAQ: GCMG), a global alternative asset management firm, are pleased to announce a strategic partnership to enhance individual investors' access to private market assets through their financial advisors. CION Investments and GCM Grosvenor's joint venture will leverage CION's extensive market insights, distribution prowess and product management capabilities in combinati. businesswire.com - 1 month ago
CION Investment Corporation: 2 Possible Outcomes From Interest Rate Cuts CION Investment Corporation operates as a business development company that generates its earnings through a diverse portfolio of debt investments. CION offers a high dividend yield of 13.8%, making it an excellent option for income-focused investors. Despite potential short-term earnings impact from lower interest rates, CION's focus on first-lien senior secured debt supports long-term portfolio growth. seekingalpha.com - 2 months ago
Dividend Cut Alert: Bad News For BDCs BDCs have outperformed REITs since early 2022 due to rising short-term interest rates and a strong economy, but dynamics shifted in July. With long-term rates declining and recession fears rising, BDCs face dividend cut risk. One BDC recently slashed its dividend aggressively and more are likely to follow. seekingalpha.com - 2 months ago
8. Profile Summary

CION Investment Corporation CION

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COUNTRY US
INDUSTRY Asset Management
MARKET CAP $ 604 M
Dividend Yield 1.54%
Description 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. The firm invests in growth capital, acquisitions, leveraged buyouts, market/product expansion, refinancing and recapitalization. The fund also invests up to 30 percent of their assets opportunistically in other types of investments, including the securities of larger public companies and foreign securities. It also makes investments in the secondary loan market. The fund does not invest in start-up companies, turnaround situations, or companies with speculative business plans. The fund prefers to invest in high tech industries, healthcare, pharmaceuticals, business services, media, chemicals, plastic, rubber, telecommunication, consumer services, advertising, printing and publishing, consumer goods, durables, diversified financials, and other industries. It also invests in homebuilding, restaurants, beverage and tobacco bars, broadcasting, distributors, Non-durable good distribution, food beverage and tobacco, energy, oil gas and consumables fuels, insurance, aerospace and defense, industrial machinery, paper and forest product machinery, information technology, metals and mining, and real estate. It primarily seeks to invest in the United States. The fund seeks to invest between $5 million and $50 million in companies with an EBITDA between $25 million and $75 million with average targeted hold of $25 million. It also purchases minority interests in the form of common or preferred equity in the target companies, typically in conjunction with its debt investments or through a co-investment with a financial sponsor. The fund seeks to exit its investments through an initial public offering of common stock, a merger, a sale, or other recapitalization.
Contact 3 Park Avenue, New York, NY, 10016 https://www.cionbdc.com
IPO Date Oct. 5, 2021
Employees None
Officers Mr. Keith Scott Franz CPA MD, Chief Financial Officer & Treasurer Mr. Mark Gatto J.D. Co-Founder, Co-Chairman & Co-Chief Executive Officer Mr. Eric Anthony Pinero Chief Legal Officer Mr. Gregg A. Bresner CFA President & Chief Investment Officer Mr. Charles Douglas Arestia MD & Head of Investor Relations Ms. Aditi Budhia Senior Vice President Mr. Nicholas Tzoumas Director Mr. Stephen Roman Chief Compliance Officer & Counsel Mr. Joe Elsabee Managing Director Mr. Michael A. Reisner Esq., J.D. Co-Founder & Co-Chairman & Co-Chief Executive Officer