Grand Canyon Education, Inc.
US ˙ NasdaqGS ˙ US38526M1062

Introduction

This page provides a comprehensive analysis of the known insider trading history of Richardson Brent D.. Insiders are officers, directors, or significant investors in a company. It is illegal for insiders to make trades in their companies based on specific, non-public information. This does not mean it is illegal for them to make any trades in their own companies. However, they must report all trades to the SEC via a Form 4. Despite these restrictions, academic research suggests that insiders - in general - tend to outperform the market in their own companies.

Average Trade Profitability

The average trade profitability is the average return of all the open market purchases made by the insider in the last three years. To calculate this, we examine every open-market, unplanned purchase made by the insider, excluding all trades that were marked as part of a 10b5-1 trading plan. We then calculate the average performance of those trades over 3, 6, and 12 months, averaging each of those durations to generate a final performance metric for each trade. Finally, we average all of the performance metrics to calculate a performance metric for the insider. This list only includes insiders that have made at least three trades in the last two years.

If this insiders trade profitability is "N/A", then the insider either has not made any open-market purchases in the last three years, or the trades they’ve made are too recent to calculate a reliable performance metric.

Update Frequency: Daily

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Companies with Reported Insider Positions

The SEC filings indicate Richardson Brent D. has reported holdings or trades in the following companies:

Security Title Latest Reported Holdings
US:LOPE / Grand Canyon Education, Inc. 53,254
How to Interpret the Charts

The following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by Richardson Brent D.. Non-planned trade are trades that were not made as part of a 10b5-1 trading plan. The stock performance is charted as cumulative percent change in share price. For example, if an insider trade was made on January 1, 2019, the chart will show the daily percent change of the security to the present day. If the share price were to go from $10 to $15 during this time, the cumulative percent change in share price would be 50%. A change in price from $10 to $20 would be 100%, and a change in price of $10 to $5 would be -50%.

Ultimately, we are trying to determine how closely the insider’s trades correlate to excess returns (positive or negative) in the share price in order to see if the insider is timing their trades to profit from insider information. Consider the situation where an insider was doing this. In this situation, we would expect either (a) positive returns after purchases, or (b) negative returns after sales. In the case of (a), the PURCHASE chart would show a series of upwardly sloping curves, indicating positive returns after each purchase transaction. In the case of (b), the SALE chart would show a series of downward sloping curves, indicating negative returns after each sale transaction.

However, this alone is not enough to draw conclusions. If, for example, the share price of the company was in a non-cyclical climb over many years, then we would expect all the post-purchase plots to be upwardly sloping. Likewise, non-cyclical declines over many years would result in downward sloping post-trade plots. Neither of these charts would suggest insider trading activity.

The strongest indicator would be a situation where the share price was extremely cyclical, and there were both positive signals in the PURCHASE chart and negative plots on the SALE chart. This situation would be highly suggestive of an insider that was timing trades to their financial advantage.

Insider Purchases LOPE / Grand Canyon Education, Inc. - Short Term Profit Analysis

In this section, we analyze the profitability of every unplanned, open-market insider purchase made in LOPE / Grand Canyon Education, Inc.. This analysis helps to understand if the insider consistently generates abnormal returns, and is worth following. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market purchases that were not part of an automatic trading plan.

Trade Date Ticker Insider Reported
Shares		 Reported
Price		 Adjusted
Shares		 Adjusted
Price		 Cost Basis Days to
Max		 Price at
Max		 Max
Profit ($)		 Max Return (%)
There are no known unplanned open-market trades for this insider and security combination

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

LOPE / Grand Canyon Education, Inc. Insider Trades
Insider Sales LOPE / Grand Canyon Education, Inc. - Short Term Loss Analysis

In this section, we analyze the short-term loss avoidance of every unplanned, open-market insider sale made in LOPE / Grand Canyon Education, Inc.. A consistent pattern of loss avoidance may suggest that future sale transactions may predict declines in price. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market sales that were not part of an automatic trading plan.

Trade Date Ticker Insider Reported
Shares		 Reported
Price		 Adjusted
Shares		 Adjusted
Price		 Cost Basis Days to
Min		 Price at
Min		 Max Loss
Avoided ($)		 Max Loss
Avoided (%)
2016-11-08 LOPE Richardson Brent D. 55,000 48.0400 55,000 48.0400 2,642,200 0 47.9000 -7,700 -0.29
2012-11-29 LOPE Richardson Brent D. 48,000 23.5800 48,000 23.5800 1,131,840

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

LOPE / Grand Canyon Education, Inc. Insider Trades
Insider Trading History

This table shows the complete list of insider trades made by Richardson Brent D. as disclosed to the Securities Exchange Commission (SEC).

File Date Tran Date Form Ticker Security Code 10b5-1 Shares Remaining Shares Percent
Change		 Share
Price		 Tran
Value		 Remaining
Value
2017-02-08 2016-12-09 5 LOPE Grand Canyon Education, Inc.
Common Stock 		G - Gift -2,250 53,254 -4.05
2016-11-09 2016-11-08 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale -55,000 55,504 -49.77 48.04 -2,642,200 2,666,412
2016-06-17 2016-06-16 4 LOPE Grand Canyon Education, Inc.
Common Stock 		A - Award 1,793 1,793
2014-02-11 2013-12-30 5 LOPE Grand Canyon Education, Inc.
Common Stock 		G - Gift -3,500 110,504 -3.07
2013-02-07 2012-12-31 5 LOPE Grand Canyon Education, Inc.
Common Stock 		G - Gift -12,500 114,004 -9.88
2013-02-07 2012-12-28 5 LOPE Grand Canyon Education, Inc.
Common Stock 		G - Gift -67,000 126,504 -34.62
2013-02-07 2012-12-26 5 LOPE Grand Canyon Education, Inc.
Common Stock 		G - Gift -350,000 193,504 -64.40
2012-11-30 2012-11-29 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale -48,000 543,504 -8.11 23.58 -1,131,840 12,815,824
2012-09-10 2012-09-07 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -20,000 591,504 -3.27 22.65 -453,000 13,397,566
2012-09-10 2012-09-06 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -35,000 626,504 -5.29 22.27 -779,450 13,952,244
2012-09-10 2011-11-02 4/A LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -75,000 2,311,504 -3.14 15.54 -1,165,500 35,920,772
2012-09-10 2011-11-01 4/A LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -75,000 2,386,504 -3.05 15.97 -1,197,750 38,112,469
2012-09-06 2012-09-05 4/A LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -20,000 571,504 -3.38 21.80 -436,000 12,458,787
2012-09-06 2012-09-04 4/A LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -25,000 591,504 -4.06 21.45 -536,250 12,687,761
2012-09-05 2012-08-05 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -20,000 571,504 -3.38 21.80 -436,000 12,458,787
2012-09-05 2012-08-04 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -25,000 591,504 -4.06 21.45 -536,250 12,687,761
2012-08-10 2012-08-10 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -20,000 616,504 -3.14 19.99 -399,800 12,323,915
2012-08-10 2012-08-09 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -20,000 636,504 -3.05 20.00 -400,000 12,730,080
2012-08-08 2012-08-08 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -25,000 656,504 -3.67 20.21 -505,250 13,267,946
2012-08-08 2012-08-07 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -25,000 681,504 -3.54 19.61 -490,250 13,364,293
2012-08-06 2012-08-06 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -15,000 706,504 -2.08 16.21 -243,150 11,452,430
2012-08-06 2012-08-03 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -15,000 721,504 -2.04 16.19 -242,850 11,681,150
2012-08-02 2012-08-02 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -15,000 736,504 -2.00 16.25 -243,750 11,968,190
2012-08-02 2012-08-01 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -15,000 751,504 -1.96 16.43 -246,450 12,347,211
2012-07-12 2012-07-11 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -20,000 766,504 -2.54 21.22 -424,400 16,265,215
2012-07-10 2012-07-10 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -15,000 786,504 -1.87 21.43 -321,450 16,854,781
2012-07-10 2012-07-09 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -20,000 801,504 -2.43 21.57 -431,400 17,288,441
2012-07-09 2012-07-06 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -15,000 821,504 -1.79 21.54 -323,100 17,695,196
2012-07-09 2012-07-05 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -30,000 836,504 -3.46 21.56 -646,800 18,035,026
2012-07-03 2012-07-03 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -20,000 866,504 -2.26 21.22 -424,400 18,387,215
2012-07-03 2012-07-02 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -30,000 886,504 -3.27 20.99 -629,700 18,607,719
2012-06-11 2012-06-11 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -20,000 916,504 -2.14 18.58 -371,600 17,028,644
2012-06-08 2012-06-08 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -20,000 936,504 -2.09 18.69 -373,800 17,503,260
2012-06-08 2012-06-07 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -20,000 956,504 -2.05 18.62 -372,400 17,810,104
2012-06-07 2012-06-06 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -25,000 976,504 -2.50 18.56 -464,000 18,123,914
2012-06-07 2012-06-05 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -20,000 1,001,504 -1.96 18.33 -366,600 18,357,568
2012-06-05 2012-06-04 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -20,000 1,021,504 -1.92 18.31 -366,200 18,703,738
2012-06-05 2012-06-01 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -25,000 1,041,504 -2.34 18.05 -451,250 18,799,147
2012-05-10 2012-05-10 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -10,000 1,066,504 -0.93 18.52 -185,200 19,751,654
2012-05-10 2012-05-09 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -20,000 1,076,504 -1.82 18.37 -367,400 19,775,378
2012-05-08 2012-05-08 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -20,000 1,096,504 -1.79 17.95 -359,000 19,682,247
2012-05-08 2012-05-07 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -20,000 1,116,504 -1.76 16.09 -321,800 17,964,549
2012-05-07 2012-05-04 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -20,000 1,136,504 -1.73 16.27 -325,400 18,490,920
2012-05-07 2012-05-03 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -20,000 1,156,504 -1.70 16.44 -328,800 19,012,926
2012-05-02 2012-05-02 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -20,000 1,176,504 -1.67 16.65 -333,000 19,588,792
2012-05-02 2012-05-01 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -20,000 1,196,504 -1.64 17.12 -342,400 20,484,148
2012-04-12 2012-04-12 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -10,000 1,216,504 -0.82 16.65 -166,500 20,254,792
2012-04-12 2012-04-11 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -25,700 1,226,504 -2.05 16.51 -424,307 20,249,581
2012-04-10 2012-04-10 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -20,000 1,252,204 -1.57 16.29 -325,800 20,398,403
2012-04-10 2012-04-09 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -14,300 1,272,204 -1.11 16.54 -236,522 21,042,254
2012-04-05 2012-04-05 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -20,000 1,286,504 -1.53 17.09 -341,800 21,986,353
2012-04-05 2012-04-04 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -20,000 1,306,504 -1.51 17.19 -343,800 22,458,804
2012-04-04 2012-04-03 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -20,000 1,326,504 -1.49 17.74 -354,800 23,532,181
2012-04-04 2012-04-02 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -20,000 1,346,504 -1.46 17.73 -354,600 23,873,516
2012-03-08 2012-03-08 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -10,000 1,366,504 -0.73 16.92 -169,200 23,121,248
2012-03-08 2012-03-07 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -11,000 1,376,504 -0.79 16.89 -185,790 23,249,153
2012-03-07 2012-03-06 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -30,000 1,387,504 -2.12 16.70 -501,000 23,171,317
2012-03-07 2012-03-05 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -30,000 1,417,504 -2.07 16.96 -508,800 24,040,868
2012-03-05 2012-03-02 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -39,484 1,447,504 -2.66 16.97 -670,043 24,564,143
2012-03-05 2012-03-01 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -29,516 1,486,988 -1.95 17.16 -506,495 25,516,714
2012-02-07 2012-02-03 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -55,000 1,516,504 -3.50 17.07 -938,850 25,886,723
2012-02-03 2012-02-02 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -35,000 1,571,504 -2.18 16.85 -589,750 26,479,842
2012-02-03 2012-02-01 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -60,000 1,606,504 -3.60 17.00 -1,020,000 27,310,568
2012-01-20 2012-01-19 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -250,000 1,666,504 -13.04 16.55 -4,137,500 27,580,641
2012-01-09 2012-01-06 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -30,000 1,970,504 -1.50 16.04 -481,200 31,606,884
2012-01-09 2012-01-05 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -23,000 2,000,504 -1.14 15.99 -367,770 31,988,059
2012-01-05 2012-01-04 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -23,000 2,023,504 -1.12 15.97 -367,310 32,315,359
2012-01-05 2012-01-03 4 LOPE Grand Canyon Education, Inc.
Common Stock 		S - Sale X -20,000 2,046,504 -0.97 16.00 -320,000 32,744,064
2012-01-05 2011-12-14 4 LOPE Grand Canyon Education, Inc.
Common Stock 		G - Gift -20,000 2,066,504 -0.96
2008-11-19 3 LOPE Grand Canyon Education, Inc.
Common Stock 		3,059,476
2008-11-19 3 LOPE Grand Canyon Education, Inc.
Common Stock 		287,976
P
Open market or private purchase of non-derivative or derivative security
S
Open market or private sale of non-derivative or derivative security
A
Grant, award, or other acquisition of securities from the company (such as an option)
C
Conversion of derivative
D
Sale or transfer of securities back to the company
F
Payment of exercise price or tax liability using portion of securities received from the company
G
Gift of securities by or to the insider
K
Equity swaps and similar hedging transactions
M
Exercise or conversion of derivative security received from the company (such as an option)
V
A transaction voluntarily reported on Form 4
J
Other (accompanied by a footnote describing the transaction)