Morgans Hotel Group Co. (NASDAQ:MHGC) has been given an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.
Analysts have set a 12 month consensus target price of $2.25 for the company, according to Zacks. Zacks has also assigned Morgans Hotel Group an industry rank of 107 out of 265 based on the ratings given to related companies.
Several institutional investors have recently made changes to their positions in MHGC. TFS Capital LLC acquired a new position in shares of Morgans Hotel Group during the second quarter worth about $152,000. K2 Principal Fund L.P. acquired a new position in shares of Morgans Hotel Group during the second quarter worth about $186,000. Paloma Partners Management Co acquired a new position in shares of Morgans Hotel Group during the second quarter worth about $211,000. Ancora Advisors LLC acquired a new position in shares of Morgans Hotel Group during the second quarter worth about $272,000. Finally, Renaissance Technologies LLC raised its position in shares of Morgans Hotel Group by 97.7% in the first quarter. Renaissance Technologies LLC now owns 262,300 shares of the company’s stock worth $362,000 after buying an additional 129,600 shares during the last quarter. 38.34% of the stock is currently owned by institutional investors.
Shares of Morgans Hotel Group (NASDAQ:MHGC) opened at 1.99 on Friday. Morgans Hotel Group has a one year low of $0.79 and a one year high of $4.09. The firm has a market capitalization of $69.40 million, a P/E ratio of 7.87 and a beta of 1.65. The company’s 50 day moving average price is $2.12 and its 200 day moving average price is $2.01.
Morgans Hotel Group (NASDAQ:MHGC) last announced its earnings results on Monday, August 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.30). Morgans Hotel Group had a negative return on equity of 8.96% and a net margin of 12.52%. The company had revenue of $52.86 million for the quarter, compared to analyst estimates of $56.21 million. On average, analysts expect that Morgans Hotel Group will post ($1.34) EPS for the current fiscal year.
Morgans Hotel Group Company Profile
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