Analysts surveyed by FactSet expected the company to post a loss of 85 cents a share on revenue of $1.09 billion. © 2021 TheStreet, Inc. All rights reserved. The shares cost Cohen's RC Ventures $75.9 million, excluding brokerage commissions. ", While RC Ventures “desires to come to an amicable resolution with [GameStop, it] will not hesitate to take any actions that it believes are necessary to protect the best interests of all stockholders.”. After taking a 12.9% stake last year through his investment firm RC Ventures, Cohen has made major changes at GameStop. RC Ventures, which is one of the Company’s largest stockholders, is managed by Ryan Cohen. See here for a complete list of exchanges and delays. RC Ventures, which is one of the company's largest stockholders, is managed by Ryan Cohen. Chewy Co-Founder Cohen Takes 13% Stake in GameStop - TheStreet RC Ventures reported a 12.9% GameStop stake. Wall Street Darling Ryan Cohen's Ambitious Plan to Transform … The notion that GameStop can compete with Amazon is “comical,” Benchmark said, and noted that the pandemic may be hurting in-store traffic. He will succeed Kathy Vrabeck, the current GameStop chairperson who is not seeking reelection. In the filing, RC Ventures said it intends to continue to engage in discussions with GameStop’s board “regarding means to drive stockholder value, including through changes to the composition of the board and other corporate governance enhancements. But it looks like Chewy co-founder Ryan Cohen is really running the show. While no buyer materialized at the time, the recent investment by Ryan Cohen of RC Ventures, and his subsequent appointment to the Board of Directors, signals that other investors see similar potential and are willing to put significant investment behind a strategy to … About Form 3. e620154_3-gme.html Zoom In Zoom Out > Form 3 (Reporting) SEC.report. GameStop recently traded at $15.40, down 1.44%, and has soared about 161% year to date. Dan is a freelance writer whose work has appeared in The Wall Street Journal, Barron's, Institutional Investor, The Washington Post and other publications. Our Standards: The Thomson Reuters Trust Principles. Action Alerts PLUS is a registered trademark of TheStreet, Inc. Heavily shorted … Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. Will Ryan Cohen turn $53 Million into $1 Billion during the … Cohen’s investment firm, RC Ventures, has been building up a position in GameStop, and now holds a 13% stake, according to Reuters. GameStop is currently knee-deep in its shift towards e-commerce, but also towards expanding into PC gaming. Ryan Cohen’s RC Ventures disclosed a 5.8 million-share stake, which amounts to a 9% holding. Reporting by Tiyashi Datta and Munsif Vengattil in Bengaluru; Editing by Shinjini Ganguli. Cohen currently holds a 12.9% stake in GameStop via his investment firm, RC Ventures. Shares of GameStop, in which RC Ventures holds a 13% stake, were up 8% in premarket trading. GameStop Corp.’s GME shares exhibited strength and jumped roughly 24% on Aug 31 on reports stating that Ryan Cohen’s RC Ventures, an investment company, bought stake in … The committee will be chaired by activist investor Ryan Cohen, manager of RC Ventures LLC and co-founder of Chewy Inc. CHWY, -7.89%, and will also include Alan A AMC CHWY BB KOSS BB GME. The agreement provides for the immediate appointment of three new directors – Alan Attal, Ryan Cohen and Jim Grube – who will also stand for election on GameStop’s nine-member slate at the Company’s 2021 Annual Meeting of Stockholders, which is expected to take place in June 2021. Cohen holds a 12.9% stake in GameStop through his RC Ventures company. Form 3 (Reporting) Published: 2020-12-21 16:05:34 Submitted: 2020-12-21 Filing Agent: E-Data Systems, Inc. Period Ending In: 2020-12-17. Insider Trading Report. Improve your mastery of Fintel and investing by attending a webinar. It called the company’s third-quarter performance a “dramatic downturn,” Bloomberg reports. RC Ventures LLC 1 November 16, 2020 The Board of Directors GameStop Corporation 625 Westport Pkwy Grapevine, Texas 76051 Subject: Maximizing Stockholder Value by Becoming the Ultimate Destination for Gamers Dear Members of the Board of Directors (the “Board”): ... Ryan Cohen Managing Member RC Ventures LLC *** RC Ventures, which is one of the Company’s largest stockholders, is managed by Ryan Cohen. After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is … Youngsters and adults alike have been playing video games until their fingers turn numb during the Covid pandemic. The company (ticker: GME) reached a deal with Chewy co-founder Ryan : 2020-12-21 Filing Agent: E-Data Systems, Inc. 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