Today's Paper Obits Newsletters Our Town Crime NWADG News Quiz Bunches piled up yards at Elkins Razorback Sports Today's Photos Puzzles
ADVERTISEMENT
ADVERTISEMENT

Hank Henderson, former chief executive officer and pitchman for America's Car-Mart, sold company shares worth more than $815,000 in recent transactions, according to filings with the U.S. Securities and Exchange Commission.

In a series of sales, one on Monday, the other last week, Henderson sold 4,000 shares at a weighted average price of $86.08 and another 4,000 at $85.50. In total, the 8,000 shares were worth $686,320. After the transaction Henderson still owns 118,830 shares.

In separate moves in early July, Henderson sold 1,500 shares at a weighted average price of $86.11, clearing $129,165, according to an SEC filing. On the same day, he exercised an option to buy 20,000 shares at $24.47, and sold 5,685 shares at $86.08 to cover the cost of the acquisition.

Henderson retired at the start of 2018. He is now a company director, serves as chief executive officer emeritus and is an adviser to senior management at Car-Mart. He was succeeded by Jeff Williams, a company stalwart.

Shares of Car-Mart have traded as high as $104.05 and as low as $61.90 over the past year. On Tuesday, shares closed at $84.86, down $1.05 or a little more than 1% on the Nasdaq exchange.

In May, Car-Mart of Bentonville saw strong profits in its fourth quarter but its revenue figures fell short of analysts' predictions and shares sagged, dropping nearly 10% in the day's trading. The used-car dealer reported net income of $14.6 million or $2.07 per share for the quarter that ended April 30, the end of its fiscal year, compared with $10.2 million or $1.43 per share for the same period in fiscal 2018. It was the fifth-consecutive quarter the company has beaten analyst's predictions on earnings.

Revenue for the quarter was $177 million, up from $169 million for the year-ago period but below analysts' expectations. Three analysts reported an average revenue estimate of $187.04 million for the quarter. Revenue at lots open at least a year was up 2.9%.

In June, the company opened a dealership in Bryant, the 36th in the state and the first new dealership in Car-Mart's 2020 fiscal year. The company plans to open another dealership in Conway in the near future and intends to open more dealerships in the coming year.

Car-Mart operates 144 dealerships in Alabama, Arkansas, Georgia, Indiana, Iowa, Kentucky, Mississippi, Missouri, Oklahoma, Tennessee and Texas.

Business on 07/10/2019

Print Headline: Ex-CEO of auto lots sells shares

Sponsor Content

Comments

ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT