Cohen's continued open-market buying at prices above recent levels signals strong conviction and likely further escalation. Watch for potential board changes, strategic review demands, or a formal proposal in the coming weeks.
Price Chart
Executive Summary
Ryan Cohen filed Amendment No. 21 to his Schedule 13D on GameStop, disclosing open-market purchases of 844,130 shares on October 13, 2026 at prices of $26.75 and $27.00 per share. His total beneficial ownership (including warrants) rose to 46,227,436 shares, or approximately 9.1% of shares outstanding. This marks a clear escalation in his activist position, increasing his stake at a premium to recent trading levels.
Key Financial Metrics
Key Facts
- Ryan Cohen purchased 844,130 shares on October 13, 2026 at $26.75 and $27.00 per share.
- Total beneficial ownership (including warrants) is 46,227,436 shares, or ~9.1% of shares outstanding.
- The filing is the 21st amendment to the original Schedule 13D, indicating sustained activist engagement.
- The stake increase follows a series of prior amendments (Oct 2, Sep 29, Sep 21) showing progressive accumulation.
Financial Impact
Cohen spent approximately $22.6 million on the October 13 purchases (844,130 shares at ~$26.88 average). His total disclosed cost basis for directly owned shares is ~$225.4 million.
Risk Factors
- GameStop's core business remains challenged (declining revenue, shifting retail landscape).
- Cohen's activist campaign may not yield a near-term catalyst if management resists change.
- The stock's elevated valuation relative to fundamentals could limit upside even with activist involvement.
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13D/A Filing (Primary) | 0000921895-26-002783 |
| Document: 0000921895-26-002783-index.html | 0000921895-26-002783 |
| Document: 0000921895-26-002783.txt | 0000921895-26-002783 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 7d ago | 8-K | $26.47 | awaiting T+60 | — | $23.90 (−9.71%) |
Oct 13, 2026 13d ago | Insider Cluster | $27.15 | awaiting T+60 | — | $23.90 (−11.97%) |
Oct 13, 2026 13d ago | SC 13D/A | $27.15 | awaiting T+60 | — | $23.90 (−11.97%) |
Oct 5, 2026 21d ago | Insider Cluster | $24.76 | awaiting T+60 | — | $23.90 (−3.47%) |
Oct 2, 2026 24d ago | Insider Cluster | $25.24 | awaiting T+60 | — | $23.90 (−5.31%) |
Oct 2, 2026 24d ago | SC 13D/A | $25.24 | awaiting T+60 | — | $23.90 (−5.31%) |
Oct 1, 2026 25d ago | Insider Cluster | $24.70 | awaiting T+60 | — | $23.90 (−3.24%) |
Sep 29, 2026 27d ago | SC 13D/A | $24.65 | awaiting T+60 | — | $23.90 (−3.04%) |
Sep 21, 2026 5w ago | Insider Cluster | $24.03 | awaiting T+60 | — | $23.90 (−0.54%) |
Sep 21, 2026 5w ago | SC 13D/A | $24.03 | awaiting T+60 | — | $23.90 (−0.54%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers