Kazazian Asset Management Lowers stake in Morgans Hotel Group Co. (MHGC)

Morgans Hotel Group Co. (MHGC) : Kazazian Asset Management reduced its stake in Morgans Hotel Group Co. by 13.48% during the most recent quarter end. The investment management company now holds a total of 64,196 shares of Morgans Hotel Group Co. which is valued at $146,367 after selling 10,000 shares in Morgans Hotel Group Co. , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Morgans Hotel Group Co. makes up approximately 0.23% of Kazazian Asset Management’s portfolio.

Other Hedge Funds, Including , New York State Common Retirement Fund reduced its stake in MHGC by selling 17,300 shares or 70.04% in the most recent quarter. The Hedge Fund company now holds 7,400 shares of MHGC which is valued at $16,872.Blackrock Fund Advisors reduced its stake in MHGC by selling 599,870 shares or 88.2% in the most recent quarter. The Hedge Fund company now holds 80,285 shares of MHGC which is valued at $183,050.Blackrock Advisors reduced its stake in MHGC by selling 7,114 shares or 53.58% in the most recent quarter. The Hedge Fund company now holds 6,164 shares of MHGC which is valued at $14,054.Gamco Investors Et Al boosted its stake in MHGC in the latest quarter, The investment management firm added 5,500 additional shares and now holds a total of 322,400 shares of Morgans Hotel Group Co. which is valued at $818,896. Morgans Hotel Group Co. makes up approx 0.01% of Gamco Investors Et Al’s portfolio.

Morgans Hotel Group Co. closed down -0.02 points or -0.90% at $2.21 with 24,000 shares getting traded on Thursday. Post opening the session at $2.24, the shares hit an intraday low of $2.21 and an intraday high of $2.24 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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 1450 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. 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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