Acadian Asset Management LLC Sells 22,619 Shares of biote Corp. (NASDAQ:BTMD)

Acadian Asset Management LLC reduced its position in biote Corp. (NASDAQ:BTMD) by 19.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 93,250 shares of the company’s stock after selling 22,619 shares during the quarter. Acadian Asset Management LLC’s holdings in biote were worth $695,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in biote in the second quarter valued at $42,000. Rhumbline Advisers raised its position in shares of biote by 104.2% in the 2nd quarter. Rhumbline Advisers now owns 28,225 shares of the company’s stock worth $211,000 after acquiring an additional 14,404 shares in the last quarter. Bailard Inc. acquired a new position in shares of biote in the 2nd quarter valued at about $146,000. SW Investment Management LLC boosted its position in shares of biote by 3.5% during the 4th quarter. SW Investment Management LLC now owns 675,000 shares of the company’s stock valued at $3,334,000 after purchasing an additional 22,651 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in biote by 59.0% during the second quarter. Bank of New York Mellon Corp now owns 94,318 shares of the company’s stock worth $705,000 after purchasing an additional 34,999 shares during the period. 21.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at biote

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

biote Stock Performance

Shares of BTMD stock opened at $6.02 on Wednesday. biote Corp. has a fifty-two week low of $3.65 and a fifty-two week high of $8.44. The stock has a 50 day simple moving average of $6.73 and a two-hundred day simple moving average of $6.41. The company has a market cap of $373.46 million, a P/E ratio of 54.73 and a beta of 0.94.

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

biote Profile

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.