GameStop Corp. Chairman and CEO Ryan Cohen bought 1,150,680 Class A common shares for roughly $26.4 million, raising his direct holdings to 40,498,522 shares, according to an SEC Form 4 filing. The transaction was executed at a weighted average price of $22.9375 and was not listed under a Rule 10b5-1 trading plan. It followed Cohen's one-million-share purchase on Sept. 10 and additional buying by three directors. The purchases came after GameStop reported fiscal second-quarter adjusted earnings of 27 cents a share, revenue of $790.2 million and record second-quarter operating income of $160.2 million. GameStop also exchanged $1.4 billion of convertible notes for stock and cash, reducing long-term debt to about $2.8 billion, while its eBay stake contributed to profit growth.