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Cion Investment Corp director buys $11.9k in company stock

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In a recent transaction, Robert A. Breakstone, a director of CION Investment Corp (NYSE:CION), purchased 1,000 shares of the company’s common stock at a price of $11.89 per share. This investment, totaling $11,890, was reported in a regulatory filing with the Securities and Exchange Commission (SEC).

The acquisition of shares by Breakstone reflects a notable transaction within the company, as it indicates a direct investment by a key member of the company’s board in its own stock. While the reasons behind a director’s decision to purchase shares can vary, transactions of this nature are often seen as a sign of confidence in the company’s future prospects.

Following the transaction, it was noted that Breakstone’s total holdings include 2,484.98 shares acquired under the issuer’s distribution reinvestment plan, as indicated in the footnotes of the SEC filing. Additionally, it is important to mention that the shares are held in an IRA for which Breakstone is the direct beneficiary, with sole voting and investment power.

Investors and the market often monitor insider transactions such as these for insights into the sentiment of company executives and directors regarding the firm’s performance and valuation. However, it’s essential to consider that buying and selling activities by insiders can be influenced by personal financial decisions and thus may not always serve as a definitive indicator of a company’s trajectory.

CION Investment Corp, with its shares traded on the New York Stock Exchange, is a firm that investors continue to watch closely, and transactions by its directors are a significant part of the narrative for those following the company’s stock.

“In other recent news, CION Investment Corp has reported a net investment income of $0.43 per share in the second quarter of 2024, effectively covering its increased quarterly base dividend. The net asset value per share saw a modest growth to $16.08, marking a 5% appreciation from the same period the previous year. The company’s total assets stood at approximately $2 billion, with a strong balance sheet and over $600 million in unencumbered assets. However, the net investment income for Q2 was $23 million, down from the previous quarter’s $32.6 million.

Despite these developments, CION remains committed to a selective deal approach and credit performance monitoring. The company has declared a third-quarter base distribution of $0.36 per share. The company’s net debt-to-equity ratio is currently 1.13x, within its target leverage range of around 1.25. Management has signaled confidence in its stock value and intends to renew its share repurchase authorization. These are some of the recent developments that have taken place at CION Investment Corp.”

InvestingPro Insights

Following the recent insider purchase by Robert A. Breakstone, a director at CION Investment Corp, market participants may gain additional perspective through key metrics and insights from InvestingPro. The company, with a market capitalization of $632.36 million, appears to be trading at an attractive valuation with a P/E ratio of 5.08. This low earnings multiple suggests that CION’s stock might be undervalued compared to its earnings potential, which aligns with one of the InvestingPro Tips highlighting the company’s trading at a low earnings multiple.

Moreover, CION has demonstrated a commendable track record of rewarding its shareholders, as evidenced by its dividend yield of 14.29% and a history of raising its dividend for 3 consecutive years. This commitment to returning value to investors is another highlight from the InvestingPro Tips, underscoring the company’s significant dividend payouts.

For those considering an investment in CION, the company’s revenue growth over the last twelve months stands at 12.57%, illustrating a robust top-line expansion. Coupled with an impressive operating income margin of 76.58%, CION’s financial health seems to be on solid ground. Additionally, the company’s fair value, as per analyst targets, is set at $12, offering a slight premium to the previous close price of $11.83.

Investors looking for more insights can find additional InvestingPro Tips on the platform, which currently lists 5 tips for CION, providing a more comprehensive analysis for informed investment decisions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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Israeli strikes kill dozens in Gaza over 48 hours, Palestinian officials say

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By Nidal al-Mughrabi

CAIRO (Reuters) -Israeli military strikes across the Gaza Strip have killed at least 120 Palestinians over the last 48 hours and hit a hospital on the northern edge of the enclave, wounding medical staff and damaging equipment, Palestinian medics said on Saturday.

Among the dead were seven members of one family whose house was hit overnight in the Zeitoun suburb of Gaza City, the health officials said. The rest were killed in separate Israeli strikes in central and southern Gaza.

At the same time, Israeli forces deepened their incursion and bombardment of the northern edge of the enclave, their main offensive since early last month.

A spokesperson for the armed wing of Hamas said a female Israeli hostage in the group’s custody had been killed in a northern area under attack by Israeli forces.

“The life of another female prisoner who used to be with her remains in imminent danger,” spokesperson Abu Ubaida added, accusing the government of Israeli Prime Minister Benjamin Netanyahu of being to blame.

An Israeli military spokesperson said it was investigating the Hamas report.

“At this point, we are unable to confirm or deny it,” the spokesperson said. “Hamas continues to engage in psychological terrorism and act in a cruel manner.”

A group representing hostages’ families did not immediately reply to a request for comment.

DAMAGE, INJURIES AT HOSPITAL

Israel’s military says its operations in northern Gaza aim to prevent Hamas fighters from carrying out attacks and regrouping. Local residents say they fear the goal is to permanently depopulate a strip of territory as a buffer zone, something Israel denies.

At Kamal Adwan Hospital, one of three medical facilities on the northern edge of Gaza that is barely operational, director Hussam Abu Safiya said the ongoing Israeli bombardment in the area appeared aimed at forcing hospital staff to evacuate – something they have refused to do since the incursion began.

“Yesterday (Friday), from the afternoon until midnight, the bombardment directly targeted the entrance to the emergency and reception area several times,” he said in a statement, adding that 12 staff members including doctors and nurses were injured.

The strike also caused significant damage that disrupted the electrical generator, oxygen supply network and water supply, he added.

Asked to comment on Abu Safiya’s statement, the Israeli military said that following an initial review it was “not aware of a strike in the area of the Kamal Adwan Hospital”, adding that it does everything possible to avoid harming civilians.

Israel says Hamas uses hospitals and civilians as human shields, and has made public videos and photos to support that claim. Hamas rejects the allegations and says it does not use the civilian population or facilities for military purposes.

Israel’s 13-month campaign in Gaza has killed more than 44,000 people and displaced nearly all the enclave’s population at least once, according to Gaza officials.

The war was launched in response to an attack by Hamas-led fighters who killed 1,200 people and captured more than 250 hostages in Israel on Oct. 7, 2023, Israel has said.

© Reuters. A Palestinian man inspects a house hit in an Israeli strike, amid the ongoing conflict between Israel and Hamas, in Gaza City November 21, 2024. REUTERS/Mahmoud Issa

Months of attempts to negotiate a ceasefire have yielded scant progress and negotiations are now on hold, with mediator Qatar having suspended its efforts until the sides are prepared to make concessions.

Hamas wants a deal that ends the conflict, and leads to the release of Israeli and foreign hostages held captive in Gaza as well as Palestinians jailed by Israel, while Netanyahu has said the war can end only once Hamas is eradicated.

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Trump expected to pick Brooke Rollins to be agriculture secretary, WSJ reports

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WASHINGTON (Reuters) -U.S. President-elect Donald Trump is expected to pick Brooke Rollins (NYSE:), president of the America First Policy Institute, to be agriculture secretary, the Wall Street Journal reported on Saturday.

If confirmed, Rollins would lead a 100,000-person agency with offices in every county in the country, whose remit includes farm and nutrition programs, forestry, home and farm lending, food safety, rural development, agricultural research, trade and more. It had a budget of $437.2 billion in 2024.

Trump’s transition team did not immediately respond to a request for comment.

The nominee’s agenda would carry implications for American diets and wallets, both urban and rural. Department of Agriculture officials and staff negotiate trade deals, guide dietary recommendations, inspect meat, fight wildfires and support rural broadband, among other activities.

The America First Policy Institute is a right-leaning think tank whose personnel have worked closely with Trump’s campaign to help shape policy for his incoming administration. She chaired the Domestic Policy Council during Trump’s first term.

If confirmed, Rollins would advise the administration on how and whether to implement clean fuel tax credits for biofuels at a time when the sector is hoping to grow through the production of sustainable aviation fuel.

The nominee would also guide next year’s renegotiation of the U.S.-Mexico-Canada trade deal, in the shadow of disputes over Mexico’s attempt to bar imports of genetically modified corn and Canada’s dairy import quotas.

© Reuters. Brooke Rollins, President and CEO of the America First Policy Institute speaks during a rally for Republican presidential nominee and former U.S. President Donald Trump at Madison Square Garden, in New York, U.S., October 27, 2024. REUTERS/Andrew Kelly/File Photo

Trump has said he again plans to institute sweeping tariffs that are likely to affect the farm sector.

He was considering offering the role to former U.S. Senator Kelly Loeffler, a staunch ally whom he chose to co-chair his inaugural committee, CNN reported on Friday.

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ICC warrants are binding, EU cannot pick and choose, EU’s Borrell says

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By Michele Kambas

NICOSIA (Reuters) – European Union governments cannot pick and choose whether to execute arrest warrants issued by the International Criminal Court against two Israeli leaders and a Hamas commander, the EU’s foreign policy chief said on Saturday.

The ICC issued the warrants on Thursday against Israeli Prime Minister Benjamin Netanyahu, his former defence minister Yoav Gallant and Hamas leader Ibrahim Al-Masri, for alleged crimes against humanity.

All EU member states are signatories to the ICC’s founding treaty, called the Rome Statute.

Several EU states have said they will meet their commitments under the statute if needed, but Hungarian Prime Minister Viktor Orban has invited Netanyahu to visit his country, assuring him he would face no risks if he did so.

“The states that signed the Rome convention are obliged to implement the decision of the court. It’s not optional,” Josep Borrell, the EU’s top diplomat, said during a visit to Cyprus for a workshop of Israeli and Palestinian peace activists.

Those same obligations were also binding on countries aspiring to join the EU, he said.

“It would be very funny that the newcomers have an obligation that current members don’t fulfil,” he told Reuters.

The United States rejected the ICC’s decision and Israel said the ICC move was antisemitic.

“Every time someone disagrees with the policy of one Israeli government – (they are) being accused of antisemitism,” said Borrell, whose term as EU foreign policy chief ends this month.

“I have the right to criticise the decisions of the Israeli government, be it Mr Netanyahu or someone else, without being accused of antisemitism. This is not acceptable. That’s enough.”

Israel’s 13-month campaign in Gaza has killed about 44,000 Palestinians and displaced nearly all the enclave’s population while creating a humanitarian crisis, Gaza officials say.

Israel began its offensive after the Hamas-led attack on Oct. 7, 2023, which killed 1,200 people in southern Israel, with more than 250 others taken hostage, Israel has said.

© Reuters. Israeli Prime Minister Benjamin Netanyahu speaks at the plenum, during a discussion on the subject of hostages kidnapped during the deadly October 7, 2023 attack, in Israel's parliament, the Knesset, in Jerusalem, November 18, 2024. REUTERS/Ronen Zvulun/

In their decision, the ICC judges said there were reasonable grounds to believe Netanyahu and Gallant were criminally responsible for acts including murder, persecution and starvation as a weapon of war as part of a “widespread and systematic attack against the civilian population of Gaza”.

The warrant for Masri lists charges of mass killings during the Oct. 7, 2023, attacks. Israel says it has killed Masri.

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