Willdan Group (WLDN) Rose on Raised Guidance

Conestoga Capital Advisors, an asset management company, released its “Micro Cap Strategy” third-quarter 2023 investor letter. A copy of the same can be downloaded here. The micro capitalization segment of the market proved the most challenging in the quarter with the Russell Micro Cap Index declining -7.93%. The Russell Micro Cap Growth Index fell further with a loss of -11.95%. The Micro Cap Composite also declined 13.34% net of fees during the same period. Particularly difficult stock selection in the Health Care and Consumer Discretionary sectors more than offset stronger stock selection effects in the Technology sector. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Conestoga Micro Cap Composite highlighted stocks like Willdan Group, Inc. (NASDAQ:WLDN) in its Q3 2023 investor letter. Headquartered in Anaheim, California, Willdan Group, Inc. (NASDAQ:WLDN) operates through Energy, and Engineering and Consulting segments. On November 15, 2023, Willdan Group, Inc. (NASDAQ:WLDN) stock closed at $21.01 per share. One-month return of Willdan Group, Inc. (NASDAQ:WLDN) was 10.00%, and its shares gained 28.82% of their value over the last 52 weeks. Willdan Group, Inc. (NASDAQ:WLDN) has a market capitalization of $286.723 million.

Conestoga Micro Cap Composite made the following comment about Willdan Group, Inc. (NASDAQ:WLDN) in its Q3 2023 investor letter:

“Willdan Group, Inc. (NASDAQ:WLDN): WLDN provides technical and consulting services to utilities, private industry, and public agencies. WLDN’s second quarter results were above expectations, with strength coming from across its business lines and improved profitability. Consolidated contract revenue grew 16%, while net revenue grew 17%. Cash generated from operations in the first half of this year has positioned the company to restart their acquisition program. With momentum expected to continue, management raised their full-year guidance for all financial targets.”

Willdan Group, Inc. (NASDAQ:WLDN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 5 hedge fund portfolios held Willdan Group, Inc. (NASDAQ:WLDN) at the end of second quarter which was 5 in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.