The CEO of GameStop acquired 1.15 million shares at an average price of $22.94 per share in an insider transaction disclosed to the US SEC. The $26.4 million purchase increased Ryan Cohen's direct holdings to 40.5 million shares. Including warrants, he now beneficially owns 44.2 million shares, representing 8.7% of the company.

GameStop shares rose 3% in postmarket trading after the report of the insider purchase. The acquisition brings the total ownership stake of the executive to 8.7% of the retailer, combining direct equity and warrants in a filing reported on Sunday.