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Jeffrey J. Scherman, Chief Accounting Officer of NeueHealth, Inc. (NASDAQ:NEUE), recently executed a series of stock transactions as reported in a recent SEC filing. On March 7 and March 10, Scherman sold a total of 804 shares of the company’s common stock, amounting to $5,756. The sale prices ranged from $7.06 to $7.19 per share. The micro-cap company, currently valued at approximately $57 million, has seen its stock price decline to $6.93. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value estimates.
In addition to the sales, Scherman also exercised restricted stock units on March 7, converting 1,280 units to common stock. These transactions did not involve any cash outlay, as each unit represented a right to receive one share of common stock. Following these transactions, Scherman holds 8,909 shares of NeueHealth. InvestingPro data shows the stock has gained nearly 27% over the past six months, with 11 more exclusive insights available to subscribers.
The sale of shares was primarily to cover tax withholding obligations related to the vesting of restricted stock units, as noted in the filing. The company maintains a "GOOD" overall Financial Health score according to InvestingPro metrics, despite operating with moderate debt levels.
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