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Morgans Hotel Group director Edward Scheetz reduces ownership to 7.8%
By Lisa Kerner
Charlotte, N.C., Nov. 5 - Morgans Hotel Group Co. director W. Edward Scheetz cut his stake in the company to 7.8% from 8.8%, according to a schedule 13D/A filed on Thursday with the Securities and Exchange Commission.
Scheetz made a series of share sales and purchases between Oct. 27 and Nov. 4, the filing said.
Between Oct. 20 and Oct. 25, the investor reduced his ownership to 8.8% from 9.9% through a series of buy and sell transactions, a prior SEC filing said.
Scheetz beneficially owns 2,307,826 shares of the New York-based hospitality company.
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