Willdan Group (NASDAQ:WLDN) Shares Down 6.9% After Insider Selling

Key Points

• Willdan Group's shares fell 6.9% following insider selling, with share prices dropping to a low of $98.01 from a previous close of $105.69.
• Key insiders, including Director Dennis V. Mcginn and VP Micah Chen, sold significant amounts of stock, resulting in decreases of 39.18% and 19.83% in their respective positions.
• Despite the recent drop, Wall Street analysts maintain a positive outlook, with a consensus rating of "Buy" and a target price averaging $111.50.

Willdan Group, Inc. (NASDAQ:WLDN - Get Free Report)'s share price dropped 6.9% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $98.01 and last traded at $98.38. Approximately 173,686 shares were traded 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 stock was 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 in the company, valued at approximately $1,204,605.60. The trade was a 39.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Micah Chen sold 10,000 shares of the company's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $106.00, for a total value of $1,060,000.00. Following the completion of the sale, the vice president owned 40,423 shares of the company's stock, valued at approximately $4,284,838. This trade represents a 19.83% decrease in their position. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

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

Willdan Group Price Performance

The firm's fifty day moving average price is $98.78 and its two-hundred day moving average price is $66.46. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $1.41 billion, a PE ratio of 40.18 and a beta of 1.30.

Institutional Trading of Willdan Group

A number of institutional investors have recently bought and sold shares of WLDN. AdvisorShares Investments LLC acquired a new stake in shares of Willdan Group during the second quarter worth about $30,000. USA Financial Formulas acquired a new position in Willdan Group during the second quarter valued at approximately $65,000. Raymond James Financial Inc. bought a new position in shares of Willdan Group during the second quarter valued at $80,000. Ameritas Investment Partners Inc. boosted its holdings in Willdan Group by 15.6% during the second quarter. Ameritas Investment Partners Inc. now owns 1,419 shares of the construction company's stock worth $89,000 after buying an additional 191 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Willdan Group by 238.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,763 shares of the construction company's stock valued at $110,000 after acquiring an additional 1,242 shares in the last quarter. 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.

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