GDS Wealth Management Makes New Investment in biote Corp. (NASDAQ:BTMD)

GDS Wealth Management acquired a new stake in shares of biote Corp. (NASDAQ:BTMD) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 57,789 shares of the company’s stock, valued at approximately $432,000. GDS Wealth Management owned approximately 0.09% of biote as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Renaissance Technologies LLC boosted its stake in shares of biote by 251.8% in the second quarter. Renaissance Technologies LLC now owns 193,077 shares of the company’s stock worth $1,442,000 after acquiring an additional 138,200 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in biote by 1,016.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 660,069 shares of the company’s stock valued at $4,931,000 after acquiring an additional 600,956 shares during the last quarter. WINTON GROUP Ltd lifted its stake in biote by 7.0% in the 2nd quarter. WINTON GROUP Ltd now owns 47,725 shares of the company’s stock worth $357,000 after purchasing an additional 3,124 shares in the last quarter. Rhumbline Advisers lifted its stake in biote by 104.2% in the 2nd quarter. Rhumbline Advisers now owns 28,225 shares of the company’s stock worth $211,000 after purchasing an additional 14,404 shares in the last quarter. Finally, Skylands Capital LLC boosted its holdings in shares of biote by 36.2% during the 2nd quarter. Skylands Capital LLC now owns 160,845 shares of the company’s stock worth $1,202,000 after purchasing an additional 42,729 shares during the last quarter. Institutional investors and hedge funds own 21.68% of the company’s stock.

Insider Activity

In other news, CFO Robert Charles Peterson sold 11,376 shares of biote stock in a transaction that occurred 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 sale, 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 filing with the SEC, which can be accessed through this link. Corporate insiders own 13.90% of the company’s stock.

biote Stock Performance

NASDAQ:BTMD opened at $5.91 on Tuesday. biote Corp. has a one year low of $3.65 and a one year high of $8.44. The stock has a market cap of $366.63 million, a PE ratio of 53.73 and a beta of 0.94. The stock has a 50 day moving average price of $6.76 and a 200 day moving average price of $6.41.

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

biote Company 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.