In recent trading activity, Jay Matushak, Chief Financial Officer of NeueHealth, Inc. (NYSE:NEUE), sold a total of 421 shares of the company's common stock. The transactions, which took place on March 14 and March 15, resulted in proceeds of $2,982 for the executive.
On the first day, Matushak sold 173 shares at $7.06 each, followed by 248 shares at $7.10 each on the second day. The sales were conducted at weighted average prices, with the actual transactions occurring at prices ranging from $6.76 to $7.45 on the first day, and from $6.98 to $7.40 on the second day.
It's important to note that these sales were not discretionary. According to a footnote in the filing, the shares were sold to cover tax withholding obligations associated with the vesting of restricted stock units.
Following these transactions, Matushak's direct ownership in NeueHealth, Inc. stands at 9,726 shares. The company, formerly known as Bright Health Group Inc (NYSE:NEUE)., is classified under the Hospital & Medical Service Plans industry and is incorporated in Delaware.
Investors often monitor insider trading activities, such as these, for insights into executive confidence and company performance. However, it's also common for executives to sell shares for personal financial management, such as tax obligations, as was the case here.
InvestingPro Insights
As NeueHealth, Inc. (NYSE:NEUE) navigates the current financial year, there are several key considerations for investors following the insider trading activity of Jay Matushak, the company's CFO. According to real-time data from InvestingPro, NeueHealth has a market capitalization of $57.6 million, reflecting the company's size within the Hospital & Medical Service Plans industry.
Analyzing the company's financial health, the data indicates a negative P/E ratio (adjusted) of -0.14 for the last twelve months as of Q4 2023, suggesting that investors are dealing with a company that is not currently profitable. This aligns with one of the InvestingPro Tips that analysts do not anticipate the company will be profitable this year.
Moreover, the company's revenue has seen a significant decline, with a -51.87% change over the last twelve months as of Q4 2023. This is a critical metric that correlates with another InvestingPro Tip highlighting analysts' anticipation of a sales decline in the current year.
Despite recent challenges, NeueHealth has experienced a strong return over the last three months with a 32.25% price total return, which may interest investors looking for short-term gains. However, it's important to note that the stock generally trades with high price volatility, as pointed out in the InvestingPro Tips.
For investors seeking a deeper analysis of NeueHealth, Inc., InvestingPro offers additional insights and metrics. By using the coupon code PRONEWS24, investors can get an extra 10% off a yearly or biyearly Pro and Pro+ subscription. There are 9 additional InvestingPro Tips available for NeueHealth, which can provide a more comprehensive understanding of the company's financial position and market performance.
The next earnings date is set for May 3, 2024, which will be a pivotal moment for the company and its shareholders. With these insights, investors can better gauge the company's trajectory and make more informed decisions.
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