Insider Trading April 9, 2026 07:13 PM

Crestview Partners Liquidates Stake in Select Water Solutions, Reports $46.8M Sale

3.1 million Class A shares sold; company announces dividend, public offering and analyst upgrade amid elevated valuation metrics

By Priya Menon WTTR
Crestview Partners Liquidates Stake in Select Water Solutions, Reports $46.8M Sale
WTTR

Crestview Partners disposed of 3,096,223 Class A shares of Select Water Solutions, Inc. (NASDAQ: WTTR) on April 8, 2026, at $15.12 per share, totaling $46,814,890. The transaction coincides with the stock trading close to its 52-week high and follows corporate actions including a dividend declaration, an underwritten public offering, and a brokerage upgrade.

Key Points

  • Crestview Partners sold 3,096,223 Class A shares of Select Water Solutions at $15.12 per share on April 8, 2026, for total proceeds of $46,814,890.
  • The company reported conversions of 2,430,240 Common LLC Units into Class A shares and cancellation of 2,430,240 Class B shares for no consideration; Robert V. Delaney, Jr. is indirectly associated with Crestview entities.
  • Select Water Solutions declared a $0.07 quarterly dividend, launched a 13,725,491-share underwritten offering at $12.75 per share, and received an Outperform upgrade and $18.00 price target from Northland based on infrastructure and chemicals segment developments.

Crestview Partners, identified as a major shareholder in Select Water Solutions, Inc. (NASDAQ: WTTR), executed a sale of 3,096,223 shares of the company’s Class A common stock on April 8, 2026. The shares were sold at $15.12 apiece, producing gross proceeds of $46,814,890.

The disposal took place while the stock was trading near its 52-week high of $16.00, after an 83% increase in the prior 12 months. InvestingPro analysis cited within company reporting indicates the stock is trading at a price-to-earnings ratio of 74.33, a valuation assessment that the analysis characterizes as overvalued at current levels.

The transaction report also documents structural changes to the company’s equity: 2,430,240 Common LLC Units were converted into Class A common stock, and an equal number, 2,430,240 shares of Class B common stock, were cancelled without consideration. The filing notes that Robert V. Delaney, Jr., a director of Select Water Solutions, has an indirect association with Crestview, L.L.C. and Crestview Advisors, L.L.C.


Alongside the Crestview disposition, Select Water Solutions announced several corporate actions and market developments:

  • The company declared a quarterly cash dividend of $0.07 per share of Class A common stock, payable on February 18, 2026, to holders of record as of February 6, 2026.
  • Northland upgraded its stock rating on Select Water Solutions to Outperform from Market Perform and raised its price target to $18.00, citing favorable developments in the company’s infrastructure and chemicals segments and referencing the company’s fourth-quarter results as supportive of the change.
  • Select Water Solutions launched an underwritten public offering of 13,725,491 shares of its Class A common stock, priced at $12.75 per share. The offering price was reported to be approximately 10% below the previous trading day’s closing price.

These items together outline recent liquidity moves by a key investor, equity reorganization through unit conversions and cancellations, a shareholder return via a declared dividend, an equity raise through an underwritten offering, and a brokerage upgrade tied to segment performance and quarterly results. The filings and announcements supply a concentrated view of the company’s current market positioning and capital activity.

Risks

  • Valuation risk - InvestingPro analysis indicates the stock trades at a P/E of 74.33 and appears overvalued at current levels, which may concern equity investors and market participants in the industrials and chemicals sectors.
  • Dilution and market-pressure risk - The underwritten public offering of 13,725,491 Class A shares priced below the prior close may exert downward pressure on the share price and impact existing shareholders in the short term.
  • Liquidity and insider-activity risk - The large sale by a significant shareholder and the conversion and cancellation of units and shares introduce changes to the company’s shareholder base and capital structure, potentially affecting market perceptions in infrastructure and water solutions markets.

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