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Jeffrey J. Scherman, the Chief Accounting Officer at NeueHealth, Inc. (NASDAQ:NEUE), reported a series of stock transactions, according to a recent SEC filing. On March 11 and 12, Scherman sold a total of 802 shares of the company’s common stock, netting approximately $5,523. The shares were sold at prices ranging from $6.85 to $6.93 per share. The transactions come as the stock, currently valued at a market cap of $54.69 million, has experienced an 8.62% decline over the past week. According to InvestingPro analysis, the stock appears to be trading in oversold territory.
In addition to these sales, Scherman executed a transaction involving the acquisition of 5,500 shares through the vesting of restricted stock units. This acquisition did not involve any cash exchange, as each restricted stock unit represents the right to receive one share of common stock. The acquired shares contributed to an increase in Scherman’s total holdings, bringing his post-transaction balance to 13,607 shares. InvestingPro analysis suggests the stock is currently undervalued, with 12 additional exclusive tips available for subscribers.
The sales were made to cover tax withholding obligations related to the vesting of restricted stock units, as noted in the filing. These transactions are part of Scherman’s ongoing management of his equity holdings in the company, occurring as NeueHealth maintains a FAIR overall financial health score.
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