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Morgans Hotel Group director Edward Scheetz reduces ownership to 5.7%
By Lisa Kerner
Charlotte, N.C., Dec. 3 - Morgans Hotel Group Co. director W. Edward Scheetz cut his stake in the company to 5.7% from 6.8%, according to a schedule 13D/A filed on Thursday with the Securities and Exchange Commission.
Scheetz sold 320,127 shares between Nov. 19 and Dec. 2 priced from $3.54 to $4.04 each, the filing said.
Between Nov. 5 and Nov. 16, the investor reduced his ownership to 6.8% from 7.8% through a series of buy and sell transactions, a prior SEC filing said.
Scheetz beneficially owns 1,698,882 shares of the New York-based hospitality company.
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