Hillsdale Investment Management Inc. Invests $1.56 Million in biote Corp. (NASDAQ:BTMD)

Hillsdale Investment Management Inc. acquired a new stake in biote Corp. (NASDAQ:BTMD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 252,544 shares of the company’s stock, valued at approximately $1,561,000.

Other large investors have also recently added to or reduced their stakes in the company. Jane Street Group LLC boosted its position in biote by 24.7% in the 3rd quarter. Jane Street Group LLC now owns 16,873 shares of the company’s stock valued at $94,000 after buying an additional 3,342 shares during the period. Rhumbline Advisers boosted its holdings in biote by 11.6% in the fourth quarter. Rhumbline Advisers now owns 37,688 shares of the company’s stock valued at $233,000 after purchasing an additional 3,920 shares during the period. Charles Schwab Investment Management Inc. grew its stake in biote by 7.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 75,738 shares of the company’s stock worth $468,000 after purchasing an additional 5,215 shares in the last quarter. Sei Investments Co. increased its holdings in biote by 56.4% during the 4th quarter. Sei Investments Co. now owns 18,321 shares of the company’s stock worth $113,000 after purchasing an additional 6,605 shares during the period. Finally, MetLife Investment Management LLC raised its position in biote by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 16,582 shares of the company’s stock valued at $93,000 after purchasing an additional 9,343 shares in the last quarter. 21.68% of the stock is owned by hedge funds and other institutional investors.

biote Trading Down 8.1 %

biote stock opened at $3.86 on Friday. The company has a fifty day simple moving average of $4.78 and a 200-day simple moving average of $5.48. The stock has a market cap of $209.74 million, a P/E ratio of 14.85 and a beta of 1.07. biote Corp. has a 12-month low of $3.04 and a 12-month high of $8.44.

Insider Buying and Selling at biote

In related news, Director Stephen Mark Cone acquired 38,104 shares of the business’s stock in a transaction on Monday, March 17th. The shares were bought at an average price of $3.88 per share, with a total value of $147,843.52. Following the completion of the acquisition, the director now owns 160,829 shares in the company, valued at $624,016.52. This trade represents a 31.05 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Guines Llc bought 750,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $3.22 per share, with a total value of $2,415,000.00. Following the acquisition, the insider now owns 3,820,938 shares in the company, valued at approximately $12,303,420.36. This represents a 24.42 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 788,204 shares of company stock worth $2,563,218 over the last ninety days. Corporate insiders own 13.90% of the company’s stock.

Analyst Ratings Changes

Separately, Craig Hallum lowered their price objective on biote from $12.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, March 13th.

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.