India, Sept. 23 -- GameStop stock is rising after CEO Ryan Cohen made a major purchase of the company's shares. Cohen bought 1.15 million GameStop Class A shares, putting the stock in focus as investors watch what the company's top insiders are doing.

Cohen bought 1,150,680 GameStop shares on Monday at an average price of $22.9375 per share. The purchase was reported in a regulatory insider-transaction filing, according to Barron's. After the latest purchase, Cohen directly owns 40,498,522 GameStop shares. GameStop said this makes Cohen one of the biggest individual insider shareholders among US-listed companies.

The latest purchase is also part of a larger buying pattern by Cohen. On September 10, he had disclosed the purchase of 1 mil...