Ryan Cohen Buys $17.1 Million In GameStop Stock, Pushing His Direct Stake Past $1 Billion
The GameStop chairman's Friday open-market purchase of 700,000 shares brings his five-filing buying total to roughly $89.5 million.
Ryan Cohen, who serves as President, CEO, and Chairman of GameStop, added 700,000 shares of GME on Friday in an open-market purchase at a weighted-average price of $24.41 per share, a $17.1 million transaction that pushed his direct stake past 41.6 million shares and over the $1 billion mark.
What The Filing Says
The Form 4 filed Friday with the SEC shows Cohen bought the shares across multiple transactions at prices ranging from $24.36 to $24.44 per share. No pre-scheduled trading plan under SEC Rule 10b5-1 — the kind that would indicate automatic, calendar-driven buying rather than a discretionary decision — was indicated on the filing.
Following the purchase, Cohen directly holds 41,648,522 shares of GameStop, valued at roughly $1.03 billion based on Friday's regular-session close of $24.70 per share. Friday's buy represents about 2% of his post-transaction direct stake.
A Pattern Of Accelerating Purchases
Friday's transaction is the latest in a string of open-market buys that have grown larger and more frequent. According to a Yahoo Finance report published September 30, Cohen purchased 450,000 shares on the prior Tuesday for roughly $10.6 million, and earlier in the same month acquired about 1.15 million shares at an average price near $22.94 per share for approximately $26.4 million.
Across five Form 4 filings in the same sample period, Cohen has acquired a total of 4,100,680 shares for roughly $89.5 million. Friday's 700,000-share purchase is the largest single transaction in that run by share count.
GameStop shares edged up about 0.02% in Friday after-hours trading — a light-volume session that followed the regular close at $24.70, up 2.45% on the day — according to market data.
What To Watch
The next signal to track is whether Cohen continues adding to his position in subsequent Form 4 filings, which must be submitted to the SEC within two business days of any transaction. GameStop's next earnings report will also provide a fundamental backdrop against which to read the stock's recent price appreciation and Cohen's sustained personal buying.
Cohen's direct stake now stands at 41,648,522 shares — a position built almost entirely through open-market purchases across five filings totaling roughly $89.5 million.
Sources
- Form 4 — Ryan Cohen (GME) — SEC EDGAR
- GameStop shares rise as CEO Ryan Cohen buys $10.6 million in stock — finance.yahoo.com
