Morgans Hotel Group Co. (MHGC) Sees Unusually-High Trading Volume
Shares of Morgans Hotel Group Co. (NASDAQ:MHGC) saw an uptick in trading volume on Wednesday . 428,364 shares changed hands during trading, an increase of 29% from the previous session’s volume of 331,089 shares.The stock last traded at $2.23 and had previously closed at $2.22.
Separately, MKM Partners upgraded shares of Morgans Hotel Group from a “sell” rating to a “neutral” rating and set a $2.25 price target for the company in a research report on Tuesday, May 10th.
The stock has a market capitalization of $77.88 million and a price-to-earnings ratio of 8.82. The company has a 50-day moving average of $2.18 and a 200-day moving average of $1.80.
Morgans Hotel Group (NASDAQ:MHGC) last announced its earnings results on Monday, May 9th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.04. Equities research analysts expect that Morgans Hotel Group Co. will post ($1.36) EPS for the current fiscal year.
Morgans Hotel Group Co is a lifestyle hospitality company. The Company operates, owns, acquires, develops and redevelops boutique hotels, primarily in gateway cities and select resort markets in the United States, Europe and other international locations. The Company’s portfolio includes three owned hotels, consisting of Hudson in New York, Delano South Beach in Miami Beach and Clift in San Francisco, comprising approximately 1,450 rooms, and the food and beverage operations located at these hotels (collectively, the Company’s Owned Hotels); Company’s owned food and beverage operations; Company’s two joint venture hotels, and Company’s licensed hotel.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.