Cohen Ryan purchased $10.6M of GME

StoneX initiated coverage of GameStop (GME) with a Buy rating and $33 price target, citing confidence in its transformation. Analyst Mike Hickey highlighted Ryan Cohen's rebuilding efforts and the growth in collectibles. Q2 revenue fell 18.7% but operating income rose to $160.2M, with collectibles revenue up 56.5%. The company is shifting focus to higher-margin categories and services.

GameStop Corp. (GME) fell 4.5% as investors focused on the October 30, 2026 warrant expiration, which could lead to share issuance at $32. The warrants will stop trading under GME WS before the market opens on October 30. The company's recent financials showed strong profitability, suggesting the drop is not due to operating results. Insider and hedge fund trading activity was also noted.

GameStop CEO Ryan Cohen bought 844,130 shares for $22.8M, increasing his stake to 9.1%. Q2 sales were $790.2M, with collectibles at 45.1% of revenue. Revenue declined YoY, but operating income rose. The company pursued an eBay acquisition, holding $4.9B in eBay shares. Investors weigh progress against risks and valuation.

GameStop (GME) shares fell 3.85% to $26.94 on Friday. Analyst Dan Ives maintained an Outperform rating and $32 target, citing the company's shift to collectibles (45% of sales) and trading card initiatives. He noted GameStop's advantage in trading cards, buyback program margins, and strategic eBay (EBAY) stake. Ives valued the core business at 16.4x fiscal 2027 EBITDA, higher than peers, and listed risks including cyclical demand and legacy sales decline.

Wedbush analyst Dan Ives maintained an Outperform rating and $32.00 price target on GameStop (NYSE:GME), citing its shift to collectibles, which now make up nearly half of sales. The stock is trading at $28.02, up 39.5% year-to-date. GameStop's strategy includes partnerships with PSA for card grading and services like Power Packs and Instant Buyback. The company plans to exchange $1.4 billion in convertible notes for shares. CEO Ryan Cohen recently bought $26.4 million in stock.

Yorkville Ives expects GameStop's GME rally to continue as it transitions to a collectibles-focused business. The firm notes collectibles now make up nearly half of sales, with infrastructure advantages in trading cards. Analyst Dan Ives highlights the potential of the PSA relationship and digital power packs. Yorkville Ives maintains an Outperform rating and $32 price target. GameStop shares hit a 52-week high of $28.30.