Willdan Group (NASDAQ:WLDN) Stock Price Down 8.7% on Insider Selling

Key Points

• Willdan Group's stock price fell by 8.7% after insider selling, with shares trading as low as $109.94 during mid-day trading.
• Director Steven A. Cohen sold 2,500 shares at an average price of $116.34, reducing his ownership in the company by 8.52%.
• Recent analyst ratings for Willdan Group include a price target increase from Roth Capital, now set at $103.00, and an upgrade from Wedbush to $120.00 with an "outperform" rating.

Willdan Group, Inc. (NASDAQ:WLDN - Get Free Report)'s stock price was down 8.7% on Friday after an insider sold shares in the company. The stock traded as low as $114.38 and last traded at $109.94. Approximately 70,659 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 206,180 shares. The stock had previously closed at $120.35.

Specifically, CFO Creighton K. Early sold 7,764 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $116.54, for a total transaction of $904,816.56. Following the completion of the sale, the chief financial officer directly owned 72,071 shares of the company's stock, valued at approximately $8,399,154.34. The trade was a 9.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven A. Cohen sold 2,500 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $116.34, for a total transaction of $290,850.00. Following the sale, the director directly owned 26,849 shares of the company's stock, valued at $3,123,612.66. This represents a 8.52% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on WLDN shares. Wedbush boosted their target price on shares of Willdan Group from $85.00 to $120.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Roth Capital reiterated a "buy" rating and issued a $103.00 target price (up from $62.00) on shares of Willdan Group in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $111.50.

Willdan Group Trading Down 1.9%

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 stock has a market cap of $1.51 billion, a price-to-earnings ratio of 43.17 and a beta of 1.31. The company's fifty day moving average price is $79.01 and its 200-day moving average price is $54.27.

Hedge Funds Weigh In On Willdan Group

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in Willdan Group by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 296,398 shares of the construction company's stock worth $11,293,000 after buying an additional 1,601 shares during the period. Envestnet Asset Management Inc. increased its holdings in Willdan Group by 32.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 17,877 shares of the construction company's stock worth $681,000 after buying an additional 4,375 shares during the period. Legal & General Group Plc increased its holdings in Willdan Group by 26.4% in the 4th quarter. Legal & General Group Plc now owns 2,597 shares of the construction company's stock worth $99,000 after buying an additional 542 shares during the period. Barclays PLC increased its holdings in Willdan Group by 32.5% in the 4th quarter. Barclays PLC now owns 22,924 shares of the construction company's stock worth $873,000 after buying an additional 5,623 shares during the period. Finally, Jump Financial LLC increased its holdings in Willdan Group by 17.0% in the 4th quarter. Jump Financial LLC now owns 18,400 shares of the construction company's stock worth $701,000 after buying an additional 2,670 shares during the period. Institutional investors and hedge funds own 72.29% of the company's stock.

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.