GameStop CEO Ryan Cohen Buys $26.4 Million of GME Stock

โดย Benzinga·US·Read original
Summary · why it matters

GameStop CEO Ryan Cohen purchased 1,150,680 shares of GameStop Class A common stock on Monday, spending roughly $26.4 million and pushing his total stake past 40 million shares, according to a Form 4 filed with the Securities and Exchange Commission. The weighted average price across Cohen's transactions was $22.9375 per share, with execution prices ranging from $22.76 to $23.02, and his direct holdings now stand at 40,498,522 shares. No Rule 10b5-1 designation appears on the filing, indicating Cohen did not execute the purchase through a pre-scheduled trading plan. The buy continues a stretch of insider accumulation: Cohen purchased one million shares on Sept. 10 at an average price near $20.38, and three GameStop directors — Lawrence Cheng, James Grube, and Alain Attal — also bought shares that same week, with Monday's per-share cost representing a premium of more than 12% over what Cohen paid just 11 days earlier. Cohen has been pursuing a major acquisition while building his personal stake, having put forward a non-binding proposal to acquire all of eBay's outstanding shares at $125 apiece, split evenly between cash and GameStop stock, valuing eBay's equity at roughly $55.5 billion; eBay's board rejected the offer, calling it "neither credible nor attractive," and Cohen has more recently considered withdrawing the takeover bid in favor of a partnership or joint venture with eBay. In July, GameStop disclosed it had increased its eBay stake to 9.75%, making it eBay's second-largest shareholder behind Vanguard Group funds, and at GameStop's current market cap of roughly $10.2 billion, Cohen's direct stake represents approximately 9% of the company.

Impact on assets 2

Consumer Discretionary± Mixed · 2 stocks
GameStop Corp.
GME
▲ PositiveCapitalrelevance

CEO Ryan Cohen bought 1,150,680 GME shares for ~$26.4 million, pushing his direct stake past 40 million shares.

eBay Inc
EBAY
▼ NegativeCapitalrelevance

GameStop's Cohen proposed a $125/share cash-and-stock takeover of eBay, which eBay's board rejected as 'neither credible nor attractive,' and he may withdraw the bid.

Off-coverage companies 1

The Vanguard Group, Inc.Private± Mixed
relevance

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