TLDR
- CEO Ryan Cohen bought 450,000 GME shares for $10.6 million on Sept. 29.
- Days later, regulatory filings showed Cohen buying 700,000 more shares at $24.41 each.
- GME stock gained 1% in after-hours trading following the latest purchase news.
- Cohen’s total stake is now worth close to $1 billion, about 8% of GameStop.
- GameStop’s GF Value estimate sits at $15.03, well below the current trading price.
GameStop CEO Ryan Cohen keeps buying stock in the company he runs. GME stock traded near $24.70 after his latest purchase, up slightly in after-hours action.
Filings show Cohen bought 700,000 Class A shares at $24.41 apiece on Oct. 2. That came just days after he picked up 450,000 units for $10.6 million on Sept. 29.
It marks Cohen’s third major stock purchase in under a month. He also bought $20.4 million worth on Sept. 10 and $26.3 million more on Sept. 21.
Ryan Cohen bought almost $100 million worth of GameStop $GME this year alone.
Interesting. pic.twitter.com/Z6SFBR430u
— NoLimit (@NoLimitGains) October 3, 2026
He isn’t the only insider buying in. Board member Nat Turner bought 10,462 units on Oct. 1 for $24.33 each, a purchase worth $252,238.
Insider Buying Streak
Cohen’s total position now tops 40.9 million units. That stake is worth roughly $998 million, or about 8% of GameStop.
Cohen hasn’t explained the recent buying spree directly. He has said in the past that CEOs should put personal money into their own companies to stay aligned with investors.
Other executives share that view too. Berkshire Hathaway CEO Greg Abel has made similar comments about insider buying.
Insider purchases across GameStop have been heavy this year. Filings show $81.3 million bought versus just $1.5 million sold over the past 12 months.
The buying comes despite a rough stretch for GME stock. The stock is down 10% over the past year and down 44% over five years, though it has climbed almost 6% over the last three months.
Cohen’s run as CEO has focused on cutting costs and pushing a turnaround. One of his more unusual moves was adding Bitcoin to GameStop’s balance sheet.
Valuation Concerns
Earlier this year, Cohen tried to buy eBay in a $56 billion deal. eBay’s management turned it down, citing doubts about how GameStop would finance it.
GameStop’s market cap sits near $10 billion, a quarter the size of eBay’s. Analysts questioned whether the half-cash, half-stock offer would be enough to get the deal done.
Investor Michael Burry, known for his “Big Short” trade, publicly criticized the bid. He sold his entire GameStop position right after the eBay offer became public.
GuruFocus pegs GameStop’s fair value at $15.03 per share using its GF Value model. That puts the stock about 64% above where the model says it should trade.
The stock’s GF Score, a measure of overall financial health, comes in at 54 out of 100. That’s a middling grade, with some strong points offset by weak ones elsewhere.
GameStop’s trailing P/E ratio stands at 16.38x, well below its five-year median of 59.65x. A forward P/E figure wasn’t available at the time of writing.
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