Michael A. Bieber, President and CEO of Willdan Group , Inc. (NASDAQ:WLDN), recently sold shares of the company's common stock. According to a filing with the Securities and Exchange Commission, Bieber sold 10,868 shares on November 11 at an average price of $45.67, resulting in a total transaction value of approximately $496,341.
The sale follows an exercise of stock options, where Bieber acquired 10,868 shares at a price of $13.49 per share. Post-transaction, Bieber holds 173,654 shares of Willdan Group, which includes restricted stock units and shares subject to vesting conditions.
In other recent news, Willdan Group reported a significant upswing in its third-quarter financials during its latest earnings call. The company's contract revenue experienced a 19% year-over-year increase to $158 million, while adjusted EBITDA grew by 50% to $15.2 million. Adjusted earnings per share also saw a substantial rise, nearly doubling to $0.73. These positive results prompted Willdan Group to revise its full-year financial projections upwards, now anticipating net revenue between $285 million and $295 million, and adjusted EBITDA of $52 million to $54 million. The company's growth is largely due to its emphasis on energy efficiency and decarbonization, and its continued expansion in key markets, including California, Florida, and Texas. It's worth noting that the company's workforce has now expanded to over 1,700 employees. Recent notable contracts include a $103 million project with Clark County School District and a $9 million contract with the New York Power Authority. The acquisition of Enica Engineering is expected to add $10 million in revenue in 2024, and Willdan's LoadSEER software is being enhanced with AI to support future growth. These are just a few of the latest developments for Willdan Group.
InvestingPro Insights
Willdan Group, Inc. (NASDAQ:WLDN) has been experiencing significant growth and financial success, as evidenced by both the recent insider transaction and current market data. According to InvestingPro, WLDN's stock has shown a remarkable 140.11% price total return over the past year, with a particularly strong 27.86% return in the last three months. This aligns with the timing of CEO Michael A. Bieber's recent stock sale, suggesting he may be capitalizing on the company's strong performance.
The company's financial health appears robust, with InvestingPro data showing a revenue of $577.41 million in the last twelve months as of Q3 2023, representing a 23.47% growth. Additionally, WLDN's EBITDA growth stands at an impressive 48.57% for the same period, indicating strong operational efficiency.
InvestingPro Tips highlight that Willdan Group operates with a moderate level of debt and has liquid assets exceeding short-term obligations, which are positive indicators of the company's financial stability. These factors may contribute to analysts' predictions that the company will remain profitable this year, as another InvestingPro Tip suggests.
It's worth noting that while the stock's current price of $46.02 is close to its 52-week high (91.24%), InvestingPro's fair value estimate of $41.6 suggests the stock might be slightly overvalued. This could provide context for Bieber's decision to sell shares at this time.
For investors seeking a more comprehensive analysis, InvestingPro offers 8 additional tips for Willdan Group, providing a deeper understanding of the company's financial position and growth prospects.
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