Gamestop (NYSE:GME) has seen its shares rally in the past few days after it was revealed that Ryan Cohen increased his position in the company from 11.9% to 12.1%. Interestingly, he doesn’t appear to be the only optimistic insider at the firm.
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Two Gamestop board members also increased their stakes. Lawrence Cheng and Alain Attal bought 5,000 and 10,000 shares, respectively. This equates to $111,850 for the former and $224,000 for the latter. Cheng’s recent acquisition brings his indirect holdings via Cheng Capital LLC to 42,088 shares. In addition, he directly holds 7,000 shares. Attal’s recent acquisition bolsters his direct holdings to a hefty 538,692 shares.
Despite the optimism, GME shares pulled back in today’s trading session, down 3.67% at the time of writing. Nevertheless, investors are still up almost 20% over the past five trading days.