Acadian Asset Management LLC Lowers Holdings in Willdan Group, Inc. $WLDN

Key Points

• Acadian Asset Management LLC reduced its stake in Willdan Group, Inc. by 1.6%, selling 6,858 shares during the first quarter, and now owns approximately 2.91% of the company worth $17.2 million.
• Recent analyst ratings have been positive, with Zacks Research upgrading the stock to a "strong-buy" and Roth Capital increasing its target price to $103.00, reflecting optimistic outlooks for the company's future performance.
• Insider trading activity revealed that CFO Creighton K. Early sold 7,764 shares at an average price of $116.54, indicating a 9.73% decrease in his ownership, while insiders overall sold 399,141 shares valued at $43 million in the last quarter.

Acadian Asset Management LLC lowered its stake in shares of Willdan Group, Inc. (NASDAQ:WLDN - Free Report) by 1.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 422,318 shares of the construction company's stock after selling 6,858 shares during the period. Acadian Asset Management LLC owned 2.91% of Willdan Group worth $17,193,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. McIlrath & Eck LLC purchased a new stake in Willdan Group during the first quarter worth $75,000. GAMMA Investing LLC lifted its holdings in Willdan Group by 1,809.7% during the first quarter. GAMMA Investing LLC now owns 2,158 shares of the construction company's stock worth $88,000 after buying an additional 2,045 shares during the period. Virtus Advisers LLC purchased a new stake in Willdan Group during the first quarter worth $191,000. MBB Public Markets I LLC purchased a new stake in Willdan Group during the first quarter worth $203,000. Finally, Wilsey Asset Management Inc. purchased a new stake in shares of Willdan Group during the 1st quarter valued at $213,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Insider Buying and Selling at Willdan Group

In related news, Director Thomas Donald Brisbin sold 130,082 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $109.69, for a total value of $14,268,694.58. Following the completion of the sale, the director owned 320,696 shares of the company's stock, valued at approximately $35,177,144.24. This trade represents a 28.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cynthia Downes sold 2,763 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $109.43, for a total value of $302,355.09. Following the completion of the sale, the director directly owned 8,909 shares of the company's stock, valued at approximately $974,911.87. This represents a 23.67% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 399,141 shares of company stock valued at $43,089,466. 8.60% of the stock is owned by insiders.

Willdan Group Price Performance

NASDAQ WLDN traded up $1.83 during trading hours on Wednesday, reaching $102.41. The company's stock had a trading volume of 67,447 shares, compared to its average volume of 243,097. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 42.78 and a beta of 1.31. Willdan Group, Inc. has a 1-year low of $30.43 and a 1-year high of $121.00. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.43 and a quick ratio of 1.43. The company's 50-day moving average is $96.35 and its two-hundred day moving average is $64.26.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on WLDN shares. Zacks Research raised Willdan Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 21st. Wedbush upped their target price on Willdan Group from $85.00 to $120.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, Roth Capital restated a "buy" rating and issued a $103.00 target price (up previously from $62.00) on shares of Willdan Group in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $111.50.

Willdan Group Profile

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.