Willdan Group (NASDAQ:WLDN) Stock Price Down 6.9% on Insider Selling

Willdan Group, Inc. (NASDAQ:WLDN) shares dropped 6.9% on Tuesday following insider selling activity. The company traded as low as $98.01 and last traded at $98.38. Approximately 173,686 shares changed hands during mid-day trading, a decline of 29% from the average daily volume of 246,148 shares. The stock had previously closed at $105.69.

Specifically, Director Dennis V. Mcginn sold 7,298 shares of the business’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $106.32, for a total transaction of $775,923.36. Following the completion of the transaction, the director owned 11,330 shares of the company’s stock, valued at $1,204,605.60. The trade was a 39.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Micah Chen sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $106.00, for a total transaction of $1,060,000.00. Following the transaction, the vice president owned 40,423 shares in the company, valued at approximately $4,284,838. The trade was a 19.83% decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

A number of research firms recently weighed in on WLDN. Zacks Research raised shares of Willdan Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 21st. Roth Capital reiterated a “buy” rating and set a $103.00 target price (up from $62.00) on shares of Willdan Group in a research report on Tuesday, August 5th. Finally, Wedbush upped their target price on shares of Willdan Group from $85.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $111.50.

Willdan Group Price Performance

The company’s fifty day moving average is $99.21 and its two-hundred day moving average is $66.68. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 41.02 and a beta of 1.31. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.22.

Hedge Funds Weigh In On Willdan Group

Several large investors have recently bought and sold shares of WLDN. AdvisorShares Investments LLC acquired a new position in Willdan Group in the second quarter valued at approximately $30,000. USA Financial Formulas acquired a new stake in Willdan Group in the second quarter worth $65,000. McIlrath & Eck LLC acquired a new stake in Willdan Group in the first quarter worth $75,000. Raymond James Financial Inc. acquired a new stake in Willdan Group in the second quarter worth $80,000. Finally, GAMMA Investing LLC raised its holdings in Willdan Group by 1,809.7% in the first quarter. GAMMA Investing LLC now owns 2,158 shares of the construction company’s stock worth $88,000 after purchasing an additional 2,045 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

About Willdan Group

Willdan Group, Inc, together with its subsidiaries, provides professional, technical, and consulting services primarily in the United States. It operates in two segments, Energy, and Engineering and Consulting. The Energy segment offers comprehensive audit and surveys, program design and implementation, master planning, demand reduction, grid optimization, benchmarking analyses, design engineering, construction management, performance contracting, installation, alternative financing, measurement and verification services, and software and data analytics, as well as energy consulting and engineering, turnkey facility and infrastructure projects, and customer support services.