Auction price $5.5M for Hot Springs Mall
The Hot Springs Mall was auctioned Wednesday for $5.5 million -- more than double the opening price -- according to a listing on auction.com, an online real estate marketplace.
A spokesman for auction.com said the company could not disclose the name of the seller or the winning bidder for the property.
The online listing, no longer available, said bidding started at $2 million. The 380,000-square-foot mall at 4501 Central Ave. was built in 1980.
The mall has an occupancy rate of 88.2 percent, according to auction.com, and includes a Sears store and a J.C. Penney. Dillard's Inc. also operates a store adjacent to the mall.
The mall's general manager could not be reached for comment Wednesday. A spokesman for Dillard's did not return an email seeking comment.
-- Jessica Seaman
Knight still paring stake in USA Truck
Knight Transportation continued to reduce its holdings in USA Truck stock after selling 119,419 shares over an 11-week period, according to a filing with the Securities and Exchange Commission.
The Phoenix-based company sold shares on the open market in multiple transactions between April 1 and June 18 in order to "realize a return on their investment in USA Truck," according to the filing. The selling price was between $23.06 and $28.85 per share.
USA Truck fought off a takeover attempt by Knight Transportation, which once held more than 1.2 million shares of stock, or a 12.4 percent stake in the Van Buren-based company. Knight Transportation now holds 719,682 shares of USA Truck stock, a 6.8 percent stake in the company.
-- Robbie Neiswanger
Arkansas Index sees day of mixed results
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, dropped 4.16 to 375.81 Wednesday.
"U.S. stocks got hit on Wednesday as the latest developments in Greece suggest there is still a ways to go for a deal," said John Blackwell, senior vice president and managing director of equity trading at Stephens Inc. in Little Rock.
Shares of USA Truck fell 9.8 percent on average volume.
P.A.M. Transportation Services fell 4 percent in light trading.
Tyson Foods again hit a 52-week high in heavy trading.
Home BancShares and Simmons First National hit 52-week highs for the second straight day.
Total volume of the index was 19 million shares.
The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 06/25/2015