Key points
- Ryan Cohen has made four GameStop buys in a month
- Four directors bought too, one for the first time
- Recent insider sales only covered taxes
GameStop (GME) Chief Executive Ryan Cohen bought another 700,000 shares on Oct. 2 for about $17.1 million, according to a Form 4 listed on our insider trading tracker. It was his fourth open-market purchase since Sept. 10. All told, he has bought about 3.3 million shares for about $74.4 million in a little over three weeks.
Four GameStop directors have also bought shares since Sept. 8, when the company reported second-quarter results. The latest is Nat Turner, who bought 10,462 shares for about $254,540 on Oct. 1. Those are the first GameStop shares he has reported owning. His initial filing as a director, in November 2024, listed none.
Cohen paid a little more each time
Each of Cohen's four purchases since Sept. 10 came at a higher average price than the previous one. The stock closed at $24.70 on Oct. 2, about 21% above where it closed on Sept. 10, the day of his first buy in this run.
| Date | Shares | Average price | Value |
|---|---|---|---|
| Sept. 10 | 1,000,000 | $20.38 | $20.4 million |
| Sept. 21 | 1,150,680 | $22.94 | $26.4 million |
| Sept. 29 | 450,000 | $23.48 | $10.6 million |
| Oct. 2 | 700,000 | $24.41 | $17.1 million |
Source: Ryan Cohen's Form 4 filings with the SEC.
Cohen also bought 1 million shares for about $21.4 million on Jan. 20 and 21, and directors Alain Attal and Lawrence Cheng bought that week too.
Cohen now owns about 41.6 million shares directly. His latest Schedule 13D amendment reports beneficial ownership of about 45.4 million shares, roughly 8.9% of the company. That total includes about 3.7 million shares he could get by exercising warrants he holds.
The directors bought smaller amounts
| Director | Date | Shares | Value |
|---|---|---|---|
| Lawrence Cheng | Sept. 8 | 55,000 | $1.03 million |
| James Grube | Sept. 9 | 10,255 | $196,076 |
| Alain Attal | Sept. 10 and Sept. 21 | 22,500 | $501,958 |
| Nat Turner | Oct. 1 | 10,462 | $254,540 |
Source: Form 4 filings with the SEC.
According to GameStop's SEC filings, the only insider sale filings since Sept. 8 were two notices from officers Mark Robinson and Daniel Moore, each covering about 7,300 shares worth roughly $177,000 on Oct. 1. Both say the shares were sold to cover withholding taxes on vesting stock awards and weren't discretionary trades.
