BUZZ-GameStop stock rises as CEO purchases shares worth $10.5 million again

September 30 - ** Video game retailer GameStop (GME.N) shares rose 1.7% in premarket trading to $24.16

** CEO Ryan Cohen disclosed the purchase of 447,000 shares of company Class A stock at prices ranging from $23.4753 to $23.4499 per share, for a total value of about $10.56 million, according to documents from the U.S. Securities and Exchange Commission (SEC)

** According to data compiled by London Stock Exchange Group (LSEG), Cohen currently directly holds 40.95 million shares, accounting for 8.12% of GME's total share capital

** Earlier this month, Cohen bought (link) 1.15 million shares worth $26.4 million and an additional 1 million shares (link)

** In August, GameStop made a non-binding offer to acquire eBay for $55.5 billion ($125 per share), but eBay's EBAY.O board rejected the offer

** The company's current price-to-earnings ratio is 13.03 times expected earnings for the next 12 months, slightly above the sector median of 12.61 times

** As of the previous trading day's close, the stock was up 18.33% year to date

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