Alta Fundamental Advisers adds Morgans Hotel Group Co. (MHGC) to its portfolio

Morgans Hotel Group Co. (MHGC) : Alta Fundamental Advisers added new position in Morgans Hotel Group Co. during the most recent quarter end. The investment management firm now holds 31,455 shares of Morgans Hotel Group Co. which is valued at $71,717 , the company said in a statement filed on Aug 15, 2016 with the SEC.Morgans Hotel Group Co. makes up approximately 0.05% of Alta Fundamental Advisers’s portfolio.

Other Hedge Funds, Including , Renaissance Technologies boosted its stake in MHGC in the latest quarter, The investment management firm added 363,500 additional shares and now holds a total of 625,800 shares of Morgans Hotel Group Co. which is valued at $1,426,824.Blackrock Investment Management reduced its stake in MHGC by selling 119,646 shares or 96.11% in the most recent quarter. The Hedge Fund company now holds 4,842 shares of MHGC which is valued at $11,040.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.

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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