TLDR
- Ryan Cohen acquired 700,000 GameStop shares at $24.41 each on October 2nd.
- This follows a September 29th purchase of 450,000 shares valued at $10.6 million.
- After-hours trading saw GME shares increase by 1% following disclosure of the transaction.
- Cohen’s ownership position has reached approximately $1 billion, representing roughly 8% of the company.
- Fair value analysis from GuruFocus places GME at $15.03 per share, significantly beneath current prices.
Ryan Cohen, the chief executive of GameStop, has extended his personal investment in the video game retailer. Shares of GME traded around $24.70 in extended-hours trading, posting modest gains after news of the acquisition emerged.
Regulatory documents reveal Cohen acquired 700,000 Class A common shares on October 2nd at a unit price of $24.41. This transaction occurred mere days following his September 29th acquisition of 450,000 shares totaling $10.6 million.
The recent activity represents Cohen’s third substantial share purchase within a span of less than 30 days. Previous transactions included a $20.4 million buy on September 10th and an additional $26.3 million purchase on September 21st.
Ryan Cohen bought almost $100 million worth of GameStop $GME this year alone.
Interesting. pic.twitter.com/Z6SFBR430u
ā NoLimit (@NoLimitGains) October 3, 2026
Cohen isn’t acting alone among company leadership. Board member Nat Turner acquired 10,462 shares on October 1st at $24.33 per share, representing an investment of $252,238.
Sustained Insider Accumulation
Cohen’s aggregate holdings have now surpassed 40.9 million shares. The current market value of this position stands at approximately $998 million, constituting around 8% of GameStop.
While Cohen hasn’t publicly addressed his recent purchasing activity, he has previously articulated that chief executives should invest their own capital in their companies to maintain alignment with shareholder interests.
This philosophy resonates with other prominent business leaders. Berkshire Hathaway’s CEO Greg Abel has voiced comparable sentiments regarding the importance of insider stock ownership.
Company insiders have demonstrated significant net buying throughout the year. Documentation shows $81.3 million in purchases compared to merely $1.5 million in sales during the trailing twelve-month period.
These acquisitions occur against a backdrop of challenging stock performance. GME has declined 10% over the past year and fallen 44% across a five-year timeframe, though shares have appreciated nearly 6% in the most recent three-month period.
Cohen’s leadership strategy has emphasized expense reduction and operational transformation. Among his more unconventional decisions was the addition of Bitcoin to the company’s treasury holdings.
Valuation Questions Persist
Earlier in the year, Cohen proposed acquiring eBay through a $56 billion transaction. eBay’s leadership rejected the overture, expressing skepticism about GameStop’s ability to fund such an acquisition.
GameStop’s current market capitalization approximates $10 billion, roughly one-quarter of eBay’s valuation. Market observers questioned whether the proposed half-cash, half-equity structure could successfully complete the transaction.
Michael Burry, the investor famous for predicting the 2008 housing crisis, openly criticized the proposed deal. He liquidated his entire GameStop holdings immediately following the public announcement of the eBay bid.
According to GuruFocus valuation methodology, GameStop’s intrinsic value calculates to $15.03 per share based on its GF Value framework. This suggests the stock is trading approximately 64% above its fundamental value.
The company’s GF Score, which evaluates overall financial strength, registers at 54 on a 100-point scale. This moderate rating reflects a mix of favorable attributes balanced against areas of weakness.
GameStop’s current price-to-earnings ratio measures 16.38x, substantially lower than its five-year median of 59.65x. Forward earnings multiple data was not accessible at publication time.
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