Meritage Hospitality Group (OTCMKTS:MHGU) Shares Down 3.2% – Here’s Why

Meritage Hospitality Group Inc. (OTCMKTS:MHGU) was down 3.2% during trading on Tuesday . The stock traded as low as $2.23 and last traded at $2.23. Approximately 2,048 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 8,819 shares. The stock had previously closed at $2.3038.

Meritage Hospitality Group Stock Performance

The company’s 50-day moving average price is $2.25 and its 200 day moving average price is $2.42. The stock has a market capitalization of $15.05 million, a PE ratio of -0.38 and a beta of -0.21. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.13 and a current ratio of 0.15.

Meritage Hospitality Group (OTCMKTS:MHGU) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.76) earnings per share (EPS) for the quarter. Meritage Hospitality Group had a negative net margin of 6.23% and a negative return on equity of 26.70%. The company had revenue of $132.60 million for the quarter.

About Meritage Hospitality Group

Meritage Hospitality Group (OTCMKTS: MHGU) is a diversified hospitality company that invests in, develops and manages limited- and select-service hotels across the United States. The company’s core activities include identifying and acquiring strategic hotel assets, securing franchise affiliations with prominent lodging brands and overseeing day-to-day property operations through its in-house management platform. Meritage’s vertically integrated model seeks to capture value at each stage of the hotel lifecycle, from site selection and development to ongoing asset management and performance optimization.

Meritage partners with leading national and global hotel franchisors, typically operating under brands within the Marriott, Choice and IHG portfolios.