ANAHEIM, CA - Michael A. Bieber, President and CEO of Willdan Group , Inc. (NASDAQ:WLDN), has recently engaged in significant trading of company stock, according to the latest SEC filings. On June 11 and 12, Bieber sold a combined total of 8,858 shares of Willdan Group common stock, resulting in proceeds of over $271,000.
The transactions were executed in multiple parts, with shares sold at prices ranging from $30.20 to $31.28. Specifically, on June 11, Bieber sold 4,464 shares at an average price of $30.25, and on June 12, an additional 4,394 shares were sold at an average price of $30.98.
In addition to the sales, the filings show that Bieber also acquired 12,000 shares through option exercises priced at $13.49 per share, amounting to a total of $161,880. These transactions reflect the CEO's exercising of stock options granted under the Willdan Group, Inc. Amended and Restated 2008 Performance Incentive Plan.
Following these transactions, Bieber's direct holdings in the company have been adjusted, as indicated in the footnotes of the SEC filing. The footnotes detail that his ownership includes restricted stock units and restricted stock that are subject to vesting over the next several years, contingent upon his continued service to the company.
Investors and followers of Willdan Group, Inc. often monitor insider transactions as they can provide insights into the executives' perspectives on the company's valuation and future prospects. The recent activity by the CEO of Willdan Group is part of the ongoing financial developments that stakeholders may consider when assessing their investment positions.
For those interested in the specifics of the trades, the SEC filing includes a commitment from Bieber to provide full information regarding the number of shares sold at each separate price within the reported ranges upon request.
Willdan Group, Inc. specializes in engineering services and has its headquarters in Anaheim, California. The company's business address and main contact information remain available for stakeholders seeking further details on the company's operations and financials.
In other recent news, Willdan Group Inc. reported robust growth in the first quarter of fiscal year 2024. The company saw a 19% increase in revenue to $123 million, a 12% rise in adjusted EBITDA to $11 million, and a substantial 56% surge in cash flow from operations to $27 million. The government and utility segments performed strongly, with a notable increase in demand from the data center sector, particularly due to the escalating electricity load from artificial intelligence processing.
Willdan Group has set its full-year financial targets at net revenue of $270 million to $280 million and adjusted EBITDA of $48 million to $50 million. The company is actively exploring strategic acquisitions and expanding its software and service offerings, demonstrating confidence in meeting its 2024 financial targets.
While the company did not disclose revenue numbers for two software sales made during the quarter, they reported strong organic growth. The company's ongoing hiring efforts and success in improving cash flow and reducing DSO levels underscore its positive trajectory and potential for future expansion. These are among the recent developments from Willdan Group Inc.
InvestingPro Insights
Willdan Group, Inc. (NASDAQ:WLDN) has been experiencing positive financial growth, as reflected in the company's recent performance metrics. With a market capitalization of approximately $417.97 million, Willdan Group is trading at a high earnings multiple, with a P/E ratio of 31.56 and an adjusted P/E ratio for the last twelve months as of Q1 2024 at 32.55.
Investors looking at Willdan Group's growth trajectory will note the company's revenue growth of 20.48% over the last twelve months as of Q1 2024. This robust top-line growth is complemented by a solid gross profit margin of 35.08%, indicating efficient management of costs relative to revenue.
An InvestingPro Tip highlights that Willdan Group is expected to have net income growth this year, which aligns with analysts' predictions that the company will be profitable. This is further supported by the company's strong return over the last three months, with a price total return of 13.27%.
For those considering the long-term performance, Willdan Group has delivered a high return over the last decade. The company has also seen a significant price uptick over the last six months, with a 46.84% return, demonstrating investor confidence and market momentum.
It's worth noting that while Willdan Group does not pay a dividend to shareholders, the company's financial health is solid, with liquid assets exceeding short-term obligations, and it operates with a moderate level of debt. These factors contribute to the overall stability and potential for continued growth.
To explore additional insights and gain a deeper understanding of Willdan Group's financials and future outlook, investors can visit InvestingPro for more tips. There are 11 InvestingPro Tips available for Willdan Group, which can be accessed at https://www.investing.com/pro/WLDN. For those looking to subscribe to InvestingPro, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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