Morgans Hotel Group Co. June 15th Short Interest Update

Morgans Hotel Group Co. (NASDAQ:MHGC) has seen a shortfall of 3,279 shares or 0.3% in the short interest. The remaining shorts are 5.3% of the total floated shares. The net short interest, as on June 15,2016, stood at 1,306,311 shares and the stocks days to cover will be 9 by factoring in the average per day volume of 137,927 shares. On May 31,2016, 1,309,590 shares were shorted. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Morgans Hotel Group Co. (NASDAQ:MHGC): The stock opened at $2.16 on Friday but the bulls could not build on the opening and the stock topped out at $2.19 for the day. The stock traded down to $2.15 during the day, due to lack of any buying support eventually closed down at $2.16 with a loss of -1.37% for the day. The stock had closed at $2.19 on the previous day. The total traded volume was 2,878,784 shares.

The company shares have dropped -67.42% from its 1 Year high price. On Aug 5, 2015, the shares registered one year high at $7.00 and the one year low was seen on Feb 10, 2016. The 50-Day Moving Average price is $2.16 and the 200 Day Moving Average price is recorded at $1.94.

Morgans Hotel Group Co. (NASDAQ:MHGC) has tumbled 0.92% during the past week and has dropped 1.37% in the last 4 week period. In the past week, the company has outperformed the S&P 500 by 0.73% and the outperformance has advanced to 1.61% for the last 4 weeks period.

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 Companys 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 Companys Owned Hotels); Companys owned food and beverage operations; Companys two joint venture hotels, and Companys licensed hotel. The Company conducts its operations through Morgans Group LLC. The Company has around 90% controlling interest in TLG Acquisition LLC, which operates numerous food and beverage and nightclub venues primarily in Las Vegas. It also has investments in certain hotels under development and other proposed properties.

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