Cano Health, Inc. executives have sold a significant amount of MSP Recovery, Inc. shares, according to a recent SEC filing. Over the course of three days, the executives disposed of shares at varying prices, cumulating in a total sale value of $114,461.
The transactions took place on March 14, 15, and 18, with the number of Class A Common Stock shares sold by Cano Health executives totaling 60,745, 44,305, and 41,937, respectively. These sales occurred at weighted average prices that ranged from $0.77 to $0.79 per share. The prices at which the shares were sold varied, with the range for each day’s transactions spanning from $0.76 to $0.84.
On the first day, shares were sold at prices between $0.76 and $0.83, resulting in a weighted average price of $0.77. The following day saw shares being disposed of at prices ranging from $0.77 to $0.83, with a weighted average of $0.78. The final day of transactions involved sales at prices between $0.78 and $0.84, averaging $0.79 per share.
These sales were conducted indirectly through Cano Health, LLC, an indirect subsidiary of MSP Recovery, Inc. (NASDAQ:LIFW), as indicated in the footnotes of the SEC filing. The executives at Cano Health are reported to hold a ten percent ownership stake in the company.
The SEC Form 4 filing was signed by David J. Armstrong, General Counsel of Cano Health, Inc., confirming the accuracy and completion of the disclosure. The filing provides transparency into the trading activities of company insiders, offering investors a glimpse into the actions of Cano Health's executives in the market for MSP Recovery shares.
InvestingPro Insights
As Cano Health, Inc. executives navigate the sale of MSP Recovery, Inc. (NASDAQ:LIFW) shares, investors are closely monitoring the company's financial health and market performance. MSP Recovery's market capitalization currently stands at a modest $110.08 million, reflecting the scale of the business in the competitive marketplace. Despite a challenging period, analysts are optimistic about the company's future, anticipating both net income and sales growth in the current year, as highlighted by two key InvestingPro Tips.
However, the company's stock performance has been under scrutiny, with a significant price decline over various time frames. The stock has experienced a -9.7% one-week total return, -62.78% over the last three months, and a staggering -96.67% one-year total return. These figures underscore the volatility and the downward pressure on the stock price, which currently hovers around $0.77 per share, just 3.08% of its 52-week high.
InvestingPro Tips suggest that the stock often moves in the opposite direction of the market and has taken a substantial hit over the last six months. These insights, coupled with the fact that short-term obligations exceed liquid assets, may be critical for investors considering the risk profile of MSP Recovery. For those looking to delve deeper into the company's prospects and financial metrics, InvestingPro offers additional insights and tips. There are currently 15 additional InvestingPro Tips available which can be accessed with a subscription. To enhance your investment analysis, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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