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George Lawrence Mikan III, the CEO and President of NeueHealth, Inc. (NASDAQ:NEUE), recently sold shares of the company worth $117,004, according to a filing with the Securities and Exchange Commission. The transactions occurred over two days, March 11 and March 12, with shares sold at prices ranging between $6.85 and $6.93. Despite the stock’s recent 8.62% weekly decline, InvestingPro analysis suggests the company is currently undervalued, with technical indicators pointing to oversold conditions.
On March 11, Mikan sold 3,747 shares at a weighted average price of $6.85. The following day, he sold an additional 13,180 shares at a weighted average price of $6.93. These sales were made to cover tax withholding obligations upon the vesting of restricted stock units, rather than as discretionary transactions by Mikan. InvestingPro data shows the company maintains a moderate debt level, though it faces challenges with cash burn and short-term obligations.
Additionally, on March 11, Mikan acquired 130,000 shares through the vesting of restricted stock units, which did not involve a cash transaction. Following these transactions, Mikan holds 297,790 shares of NeueHealth. For deeper insights into insider transactions and 12 additional ProTips about NEUE’s financial health, visit InvestingPro.
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