Key insights
- Significant 10% owners of WaterBridge Infrastructure (WBI) sold over $177 million in stock following a strong 45% six-month rally. While the company is expected to become profitable this year, a recent Q1 earnings miss below expectations suggests potential headwinds. The large insider sale, even if for liquidity or portfolio rebalancing, could signal reduced conviction from major holders, potentially weighing on investor sentiment and future price performance.
WaterBridge Resources LLC and WaterBridge NDB LLC, significant 10% owners of WaterBridge Infrastructure LLC (NASDAQ:WBI), reported the sale of 5,894,826 Class A shares for a total of $177,139,521 on June 22, 2026. The shares were sold at a price of $30.05 per share.The sale comes after WBI shares delivered a strong 45% return over the past six months, currently trading at $29.98. According to InvestingPro analysis, the stock appears fairly valued at current levels, with analysts forecasting the company to turn profitable this year with expected earnings of $1.07 per share.
The sales were executed by entities indirectly controlled by the reporting owners. NDB Holdings LLC sold 3,920,948 Class A shares, Desert Environmental Holdings LLC sold 543,064 Class A shares, and WBR Holdings LLC sold 1,430,814 Class A shares. These transactions were conducted in connection with a sale under Rule 144.
Prior to the sale, NDB Holdings LLC and Desert Environmental Holdings LLC redeemed a combined 4,464,012 WBI Operating LLC Units. This redemption, along with the cancellation of an equal number of Class B shares, resulted in the acquisition of 4,464,012 Class A shares, which occurred for no consideration.
WaterBridge Resources LLC is the managing member of WBR Holdings LLC, while WaterBridge NDB LLC is the managing member of NDB Holdings LLC. Desert Environmental Holdings LLC is also controlled by entities linked to Five Point Energy funds. These reporting owners are deemed to indirectly beneficially own the securities held by these respective holding entities. Following these transactions, the reporting owners continue to hold substantial indirect interests in WaterBridge Infrastructure LLC, including Class A shares, OpCo Units, and corresponding Class B shares.
In other recent news, WaterBridge Infrastructure reported its first-quarter 2026 earnings with an earnings per share (EPS) of $0.08, which was below the expected $0.14. Despite this earnings miss, the company has raised its full-year guidance, reflecting a positive outlook on future performance. Goldman Sachs responded to these developments by raising its price target for WaterBridge Infrastructure from $32 to $36 while maintaining a Buy rating on the stock. The updated estimates from Goldman Sachs followed the company’s earnings results, which showed stronger-than-expected outcomes driven by improved costs and produced water margins. The firm now projects WaterBridge’s 2026 EBITDA to be $463 million, which aligns with the higher end of the company’s guidance range of $425 million to $465 million. This projection is also slightly above the consensus estimates of $457 million. These recent developments provide investors with key insights into WaterBridge Infrastructure’s financial performance and future expectations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
The fastest way to find out is with our Fair Value calculator. We use a mix of 17 proven industry valuation models for maximum accuracy. Get the bottom line for WBI plus thousands of other stocks and find your next hidden gem with massive upside.