Insider Buying: GameStop (NYSE:GME) CEO Buys 1,150,680 Shares
The purchase extends Cohen’s insider buying streak and lifts his direct GameStop stake to 40,498,522 shares, according to an SEC filing.
- On Tuesday, GameStop Corp. stock rose 4% after CEO Ryan Cohen disclosed purchasing 1,150,680 shares on Monday, spending roughly $26.4 million in the open-market transaction.
- This purchase marks Cohen's second seven-figure open-market buy in two weeks, while GameStop directors Lawrence Cheng, James Grube, and Alain Attal also purchased shares during the same week.
- GameStop reported $790.2 million in quarterly revenue and increased its full-year adjusted EBITDA outlook to exceed $650 million, with operating income reaching a record $160.2 million.
- The EBAY board rejected Cohen's takeover proposal, calling it "neither credible nor attractive," prompting him to consider a potential partnership or joint venture for GameStop's roughly $4.9 billion stake.
- Traders are watching whether GameStop stock holds these gains, as some analysts view the insider buying as a price floor rather than a catalyst. Future EBAY updates remain the primary information event.
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17 Articles
GameStop CEO Ryan Cohen makes $26M bet on company
GameStop CEO Ryan Cohen spent $26.4 million to buy more company stock, boosting his ownership stake as the Grapevine retailer posts record operating profit, amasses $5.4 billion in assets and continues pursuing opportunities involving eBay. Read on to find out more.
GameStop Jumps 4% as Ryan Cohen Buys 1.15 Million More Shares
Shares of GameStop Corp. (NYSE:GME) are climbing in Tuesday morning trading after Chairman and CEO Ryan Cohen disclosed a second seven-figure open-market purchase inside two weeks. GameStop stock is at $23.69, up 4%, with the bid concentrated in the company’s own name rather than a wider rally. The move builds on a stretch of insider […]
Insider Buying: GameStop (NYSE:GME) CEO Buys 1,150,680 Shares
GameStop Corp. (NYSE:GME - Get Free Report) CEO Ryan Cohen acquired 1,150,680 shares of the company's stock in a transaction dated Monday, September 21st. The shares were bought at an average cost of $22.94 per share, with a total value of $26,396,599.20. Following the purchase, the chief executive officer owned 40,498,522 shares in the company, valued at approximately $929,036,094.68. The trade was a 2.92% increase in their ownership of the sto…
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