Wed Sep 25 07:51:20 UTC 2024: ## Willdan Group (WLDN) Sees Increased Institutional Interest Amid Insider Sales
**Los Angeles, CA – September 25, 2024** – Willdan Group, Inc. (NASDAQ: WLDN), a leading provider of professional, technical, and consulting services, has seen a surge in institutional investment during the second quarter.
Rhumbline Advisers, a prominent institutional investor, boosted its holdings in Willdan Group by 9.7%, acquiring an additional 1,818 shares. This move, along with similar investments by other institutions like Acadian Asset Management LLC, EntryPoint Capital LLC, BNP Paribas Financial Markets, and Lazard Asset Management LLC, highlights growing confidence in the construction company’s future.
However, the company also witnessed significant insider selling. Fund L.P. Forager, a major shareholder, sold 188,230 shares in July, and CEO Michael A. Bieber sold 9,209 shares in August.
Despite this insider selling, Willdan Group recently exceeded earnings expectations for the second quarter, reporting $0.44 EPS, surpassing the consensus estimate of $0.29. The company’s revenue also surpassed expectations, reaching $141 million.
Analysts remain optimistic about Willdan Group’s future, with several firms raising their price targets and issuing “buy” or “outperform” ratings. Roth Mkm upgraded their price target from $34.00 to $47.00, while Wedbush initiated coverage with an “outperform” rating and a $51.00 price target.
Overall, while insider selling might raise some concerns, the increasing institutional interest and recent strong earnings performance suggest a positive outlook for Willdan Group.
First Piper 