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Enter Symbol:
Rating: MHGC
Mkt Outperform
down 38.00 %

JMP Securities reiterated Morgans Hotel Group Co. (NASDAQ: MHGC) to Mkt Outperform

Tuesday,  Mar 30, 2010  8:25 AM ET by Kristen Bailey

The JMP Securities advised against investing in this stock and the price has fallen for a loss. The price fell from $10.78 on 07/09/2008 to $6.68 on 03/30/2010. JMP Securities reiterated Morgans
Hotel Group Co. (NASDAQ: MHGC) to Mkt Outperform with today's price of $6.68. JMP Securities rated Morgans Hotel Group Co. (NASDAQ: MHGC) to Mkt Outperform with price target $18 on 07/09/2008, when the price was $10.78. Morgans Hotel Group Co.'s stock price lost 38% since then.
By following the previous JMP Securities's recommendation on MHGC, you would have lost 38% in 629 days.

Morgans Hotel Group Co. is an integrated hospitality company that operates, owns, acquires, develops and redevelops boutique hotels primarily in gateway cities and select resort markets in the United States, Europe and in select international locations. As of December 31, 2008, the Company owned or partially owned, and managed a portfolio of 12 luxury hotel properties in New York, Miami, Los Angeles, Scottsdale, San Francisco, London and Las Vegas, comprising approximately 3,700 rooms. In addition, it has two hotel developments, in Boston and New York, and a hotel expansion in Las Vegas representing an estimated 1,300 additional guest rooms. In June 2008, the Company entered in a joint venture agreement with Normandy Real Estate Partners and Ames Hotel Partners as part of the development of the Ames hotel in Boston, Massachusetts.

MP Securities' equity research department provides institutional clients with comprehensive industry knowledge, unique insight and actionable information. JMP's senior research analysts are charged with developing proprietary investment themes, anticipating secular and cyclical changes and producing action-oriented reports. JMP follows companies in six industries that exhibit above-average long-term growth characteristics — Technology, Healthcare, Consumer, Real Estate, Financial Services and Business Services — and produces specialized equity research that enables investors to understand and invest in complicated growth stocks profitably.



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