GameStop (GME) stock: Ryan Cohen buys $20 million worth of shares, major insiders buy

Key Highlights

Ryan Cohen acquired 1,000,000 GME shares on September 10, 2026 at an average weighted price per share of US$20.38, with a total investment of US$20.3 million. After the transaction, the total number of GameStop shares directly held by Cohen reached 39,347,842 shares.

Director James Grube purchased 10,255 shares on September 9, 2026, with an investment amount of approximately US$196,000.

The company's second quarter net profit surged 77%, and revenue achieved year-on-year growth.

GameStop recently reached an agreement to convert approximately US$1.4 billion in conversion bonds into Class A common stock.

Cohen showed his confidence in GameStop with real money

Ryan Cohen not only expressed his support for GameStop in words, but also proved his confidence through huge capital investment. As Chairman, President and CEO of GameStop Corp. (GME), he acquired 1,000,000 shares on September 10, 2026, at a weighted average price per share of $20.38. The total transaction totaled US$20,375,900, and the individual stock price ranged from US$20.02 to US$20.47.

At the time of Cohen's purchase, GME was trading at $20.39, which was very close to the fair value assessment of $20.04. After completing the transaction, Cohen's direct stake in GameStop was 39,347,842 shares. This is a considerable position for an executive who is already recognized for actively shaping the direction of the company.

Executive buying is not an isolated event

Cohen's purchase behavior is not isolated among company management. The day before, September 9, 2026, director James Grube purchased 10,255 shares at a weighted average price of $19.12 per share, with an investment amount of approximately $196,000. After the transaction closed, Grube's total shareholding reached 39,694 shares, with an estimated value of $789,513 based on the September 9 closing price of $19.89.

Grube's move increased its direct shareholding by 35% at a time.

The meaning of insider buying

While corporate insiders may sell shares for a variety of reasons, they usually buy with only one main motivation: belief that the stock price will rise. This simple principle explains why investors pay close attention to insider activities. Research has shown that insider buying is often correlated with stock price increases over the subsequent 30 days.

Cohen and Grube bought within 24 hours, and this timing strengthens the bullish signal.

Company financial results update

Basic business indicators support optimistic insider sentiment. GameStop achieved a 77% increase in net profit in the second quarter, accompanied by revenue growth. The retailer maintains a cash position stronger than its debt obligations, and its financial health rating is "excellent"(3.05 points), according to InvestingPro. Its price-to-earnings ratio (P/E) is 13.36, its market cap is close to $10.29 billion, and its revenue over the past 12 months has reached $3.6 billion.

The company's strategic expansion into transaction cards and collectibles in addition to its traditional gaming business has also contributed to these excellent results.

In a recent corporate action, GameStop agreed to exchange approximately $1.4 billion worth of senior convertible bonds for Class A common stock shares. These include $400 million in bonds due in 2030 and $1 billion in bonds due in 2032.

At the 2026 annual meeting, shareholders voted to approve the expansion of the authorized number of Class A shares, with 68.7% of voters supporting the measure. The authorization is consistent with the company's proposed acquisition of eBay Inc. (EBAY) related.

Cohen has been a public advocate of the acquisition and expressed dissatisfaction that eBay's leadership did not hold direct discussions with GameStop.

In another strategic partnership, GameStop partnered with Uber Technologies to provide product delivery services through the Uber Eats platform, covering video games, game consoles and related accessories across the country.

Over the past 52 weeks, GME shares have fluctuated between $17.79 and $28.10.