Morgans Hotel Group Co. (MHGC) was one of the Russell 2000's biggest losers for Wednesday January 06 as the stock slid 6.17% to $2.89, a loss of $-0.19 per share. Starting at an opening price of $3.04 a share, the stock traded between $2.88 and $3.04 over the course of the trading day. Volume was 58,946 shares over 424 trades, against an average daily volume of 118,078 shares and a total float of 34.71 million.
The losses send Morgans Hotel Group Co. down to a market cap of $100.32 million. In the last year, Morgans Hotel Group Co. has traded between $8.00 and $2.93, and its 50-day SMA is currently $3.34 and 200-day SMA is $5.22.
Morgans Hotel Group Co, operates, owns, acquires, develops and redevelops boutique hotels, in gateway cities and select resort markets in the United States, Europe and other international locations.
Morgans Hotel Group Co. is based out of New York, NY and has some 2,600 employees. Its CEO is Richard Szymanski.
For a complete fundamental analysis analysis of Morgans Hotel Group Co., check out Equities.com’s Stock Valuation Analysis report for MHGC. To see the latest independent stock recommendations from Equities.com’s analysts, visit our Research section.
The Russell 2000 is one of the leading indices tracking small-cap companies in the United States. It's maintained by Russell Investments, an industry leader in creating and maintaining indices, and consists of the smallest 2000 stocks from the broader Russell 3000 index.
Russell's indices differ from traditional indices like the Dow Jones Industrial Average (DJIA) or S&P 500, whose members are selected by committee, because they base membership entirely on an objective, rules based methodology. The 3,000 largest companies by market cap make up the Russell 3000, with the 2,000 smaller companies making up the Russell 2000. It's a simple approach that gives a broad, unbiased look at the small-cap market as a whole.
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