Morgans Hotel Group Co. (MHGC) Jumps 11.3% on February 16

Equities Staff |

Morgans Hotel Group Co. (MHGC) was among the biggest gainers on the Russell 2000 for Tuesday February 16 as the stock popped 11.3% to $1.16, representing a gain of $0.1175 per share. Some 106,252 shares traded hands on 525 trades, compared with an average daily volume of 155,858 shares out of a total float of 34.71 million. The stock opened at $1.02 and traded with an intraday range of $1.17 to $1.02.

After today's gains, Morgans Hotel Group Co. reached a market cap of $40.18 million. Morgans Hotel Group Co. has had a trading range between $8.00 and $0.79 over the last year, and it had a 50-day SMA of $2.44 and a 200-day SMA of $4.43.

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.

For more news on the financial markets, go to Equities.com. Also, learn more about our independent proprietary equity research reports and our robust do-it-yourself Stock Valuation Analysis reports in our Research section.

All data provided by QuoteMedia and was accurate as of 4:30PM ET.



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