Ryan Cohen, GameStop's President, CEO and Chairman, bought 1 million shares of the company for $20.4 million, according to an SEC Form 4 filing. The purchase lifts his direct stake to 39,347,842 shares, worth $802.3 million at the current price.
Cohen adds 1 million shares
Cohen acquired 1,000,000 GameStop shares in multiple transactions at prices ranging from $20.0199 to $20.4699, for a weighted average cost of $20.38 per share. The block totaled $20.4 million, based on that weighted average.
The purchase brought his direct holdings to 39,347,842 shares, up from 38,347,842 before the filing. Total insider ownership at the company now stands at 9%. As of the Sept. 10, 2026 close, GameStop shares traded at $20.39, just above Cohen's average purchase price.
Why the purchase matters
An insider sells shares for many reasons unrelated to their outlook, but there is only one reason an insider buys: they believe the price will rise. Studies show that, more often than not, an insider purchase predicts a higher share price 30 days later.
Cohen joined GameStop's board in 2021 after building and selling pet-products platform Chewy, and took over running the retailer in 2023. Under his leadership, GameStop became the poster child of the meme stock frenzy earlier this decade.
A retailer in transition
The business has been improving: net income jumped 77% in the second quarter, with a large increase in overall revenue as well. GameStop's push into trading cards and collectibles alongside its video game business is contributing to that growth, and is likely a reason behind its unsolicited bid for eBay.
GameStop currently carries a market capitalization of $8.9 billion, trailing-twelve-month revenue of $3.6 billion and net income of $893.3 million. Cohen's purchase signals he still believes in the turnaround he has led — though insider buying probably shouldn't be the only factor investors weigh.
Source: SEC Form 4 filing
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