Executives at Willdan Group , Inc. (NASDAQ:WLDN), a provider of professional technical and consulting services, have recently sold a significant amount of company stock. The transactions, which took place between May 9 and May 13, involved the sale of Willdan Group shares at prices ranging from $32.3179 to $34.6392, amounting to a total of $3,024,547.
The largest of these transactions occurred on May 9, when shares were sold at a weighted average price of $33.4548, with sales in multiple transactions ranging from $32.96 to $33.95. Another set of sales on the same day saw shares sold at an average price of $34.3251, with individual transactions ranging from $33.96 to $34.50. On May 10, shares were sold at average prices of $32.9185 and $33.9505, with the prices of individual transactions spanning from $32.52 to $34.51. The final sales reported on May 13 were at an average price of $32.3179, with a range from $32.00 to $32.66.
The sellers, identified as insiders of Willdan Group, include Forager Fund, L.P., and its principals, Edward Urban Kissel and Robert Symmes MacArthur. They have shared authority to vote and dispose of the shares held by the fund. The filings indicate that both Kissel and MacArthur disclaim beneficial ownership of the sold shares except to the extent of their pecuniary interest.
The reported transactions provide investors with insights into insider activity at Willdan Group. While the SEC filings detail the amounts and prices of the shares sold, they do not necessarily indicate a change in company outlook or management's view of the stock's potential. Investors often monitor insider sales as part of their due diligence and investment strategy.
InvestingPro Insights
Amidst the recent insider transactions at Willdan Group, Inc. (NASDAQ:WLDN), the company's financial performance and market valuation provide additional context for investors. With a market capitalization of 440.07 million USD, Willdan Group is navigating the competitive landscape of technical and consulting services. The company's stock is currently trading at a high earnings multiple, with a P/E ratio of 33.35 and an adjusted P/E ratio for the last twelve months as of Q1 2024 standing at 34.02.
InvestingPro Tips suggest that Willdan Group's net income is expected to grow this year, which could be a driving factor behind the company's high earnings multiple. Additionally, Willdan Group has demonstrated a strong return over the last year, with a 1-year price total return of 86.18%. An impressive 6-month price total return of 73.5% further highlights the company's robust performance in the market. Analysts predict the company will be profitable this year, which is reflected in the stock's positive price momentum.
InvestingPro Data shows that Willdan Group has achieved a significant 20.48% revenue growth in the last twelve months as of Q1 2024, indicating a healthy expansion of its business operations. The company also boasts a gross profit margin of 35.08%, underscoring its ability to manage costs effectively. These metrics, combined with the fact that Willdan Group operates with a moderate level of debt and has liquid assets exceeding short-term obligations, present a picture of financial stability and potential for continued growth.
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