GameStop CEO Cohen buys shares worth nearly $23 million

Oct 13 (Reuters) - GameStop ‌CEO ​Ryan ​Cohen bought about $22.8 million worth of the videogame retailer's shares, ‌a regulatory filing showed on Tuesday, ⁠raising his total ownership to 9.1%.

Here are more ‌details:

• Cohen bought ‌844,130 shares between $26.75 and $27 apiece, increasing his stake to 46.2 million shares

• This ​marks Cohen's second purchase of GameStop stock this month. He bought $17.1 ⁠million worth of shares, according to an SEC filing ​on October 2

• Analysts generally view insider purchases as a sign ​that executives are confident ‌in a company's prospects and believe its shares are undervalued

• ⁠Earlier this year, GameStop sought to acquire eBay, roughly four times its market ⁠value, for about $56 billion. EBay rejected the offer ​as "neither credible nor attractive"

• In August, Bloomberg news reported that Cohen was considering abandoning his ‌pursuit of eBay and instead pursuing a partnership or joint ‌venture with the ecommerce major

• GameStop's ⁠shares have risen ‌35.6% so ​far this year

(Reporting by Pragyan Kalita in Bengaluru; Editing by Diti ‌Pujara)

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