Acadian Asset Management LLC Has $695,000 Stock Position in biote Corp. (NASDAQ:BTMD)

Acadian Asset Management LLC cut its holdings in shares of biote Corp. (NASDAQ:BTMD) by 19.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 93,250 shares of the company’s stock after selling 22,619 shares during the period. Acadian Asset Management LLC owned about 0.15% of biote worth $695,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of BTMD. Allspring Global Investments Holdings LLC bought a new stake in shares of biote during the 2nd quarter valued at approximately $42,000. Bailard Inc. acquired a new stake in biote in the second quarter valued at approximately $146,000. Rhumbline Advisers grew its stake in shares of biote by 104.2% during the second quarter. Rhumbline Advisers now owns 28,225 shares of the company’s stock worth $211,000 after buying an additional 14,404 shares during the last quarter. Sanders Morris Harris LLC acquired a new position in shares of biote during the second quarter worth $585,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of biote by 59.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 94,318 shares of the company’s stock valued at $705,000 after acquiring an additional 34,999 shares during the last quarter. Institutional investors and hedge funds own 21.68% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Robert Charles Peterson sold 11,376 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $7.57, for a total transaction of $86,116.32. Following the completion of the transaction, the chief financial officer now owns 32,874 shares of the company’s stock, valued at $248,856.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 13.90% of the company’s stock.

biote Stock Up 1.9 %

NASDAQ BTMD opened at $6.02 on Wednesday. biote Corp. has a twelve month low of $3.65 and a twelve month high of $8.44. The business’s fifty day moving average is $6.73 and its 200 day moving average is $6.41. The company has a market cap of $373.46 million, a price-to-earnings ratio of 54.73 and a beta of 0.94.

biote (NASDAQ:BTMD) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. biote had a negative return on equity of 20.92% and a net margin of 3.67%. The firm had revenue of $49.17 million for the quarter, compared to analyst estimates of $50.40 million. On average, research analysts anticipate that biote Corp. will post 0.52 earnings per share for the current fiscal year.

About biote

biote Corp. operates in practice-building business within the hormone optimization space. It trains physicians and nurse practitioners in hormone optimization using bioidentical hormone replacement pellet therapy in men and women experiencing hormonal imbalance. The company offers Biote Method, a comprehensive end-to-end practice building platform that provides Biote-certified practitioners with the components developed for practitioners in the hormone optimization space comprising Biote Method education, training, and certification services; practice management software that allows Biote-certified practitioners to order, track, and manage hormone optimization product inventory and other administrative requirements; inventory management software to monitor pellet inventory; and information regarding available hormone replacement therapy products, as well as digital and point-of-care marketing support.