Knight Transportation Unloads More USA Truck Shares

by Marty Cook  on Wednesday, Aug. 6, 2014 8:38 am  

USA Truck Inc. of Van Buren.

Knight Transportation Inc. of Phoenix sold another 142,000 shares of USA Truck this past week according to a filing with the Securities & Exchange Commission.

Knight attempted to buy USA Truck last year by acquiring more 1.3 million shares, or 12.4 percent of the company’s outstanding stock. USA Truck of Van Buren later filed a lawsuit, which was settled out of court with Knight agreeing to not buy any more stock until September.

Knight sold blocks of shares beginning with 94,300 on July 31. The company sold another 30,700 on Friday and 17,000 this week.

In the filing, Knight said it sold the shares for $2.6 million. Knight had sold 111,400 shares for $1.9 million in May.

Knight still owns a little more than 1 million shares, or 10 percent of USA Truck. 

 

 

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