Mon Sep 23 22:30:44 UTC 2024: ## Bitcoin Depot Insider Buys Stock, Institutional Investors Show Interest

**New York, NY (MarketBeat News)** – Bitcoin Depot Inc. (NASDAQ: BTM) saw a significant insider purchase on August 9th, as major shareholder Andrew Mitchell Paul acquired 97,804 shares of the company’s stock at an average price of $1.66 per share. This transaction, valued at $162,354.64, brings Paul’s total ownership to 117,146 shares, valued at $194,462.36.

This insider purchase comes amidst renewed interest from institutional investors. Owl Creek Asset Management L.P. established a new position in Bitcoin Depot during the fourth quarter, while Renaissance Technologies LLC significantly increased its stake by 122.1% in the second quarter. Other notable institutional investors, including Privium Fund Management UK Ltd, Shaolin Capital Management LLC, and Cohanzick Management LLC, also boosted their holdings in recent quarters.

Overall, institutional investors now own 9.18% of Bitcoin Depot’s stock, demonstrating growing confidence in the company’s future.

Bitcoin Depot is a leading provider of cryptocurrency kiosks in North America, enabling customers to buy and sell cryptocurrencies like Bitcoin, Litecoin, and Ethereum. The company also offers cryptocurrency sales through its BDCheckout product at retail locations and its website.

While BTM’s stock traded down $0.06 on Monday to $1.53, several analysts remain optimistic. HC Wainwright reaffirmed a “buy” rating on the stock and lowered its price target from $4.00 to $3.50 on August 15th.

This flurry of activity suggests a growing interest in Bitcoin Depot, which may indicate a positive outlook for the company despite recent market fluctuations.

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