State Street Corp Invests $2.78 Million in Atour Lifestyle Holdings Limited (NASDAQ:ATAT)

State Street Corp purchased a new stake in Atour Lifestyle Holdings Limited (NASDAQ:ATAT) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 107,005 shares of the company’s stock, valued at approximately $2,776,000. State Street Corp owned approximately 0.08% of Atour Lifestyle as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new stake in shares of Atour Lifestyle during the 2nd quarter worth approximately $7,940,000. Prudential PLC purchased a new stake in Atour Lifestyle in the second quarter valued at $13,161,000. Van Berkom & Associates Inc. acquired a new position in Atour Lifestyle in the second quarter valued at $492,000. Jupiter Asset Management Ltd. purchased a new position in shares of Atour Lifestyle during the second quarter worth about $4,406,000. Finally, Renaissance Technologies LLC increased its position in shares of Atour Lifestyle by 126.7% during the second quarter. Renaissance Technologies LLC now owns 783,400 shares of the company’s stock worth $14,375,000 after purchasing an additional 437,900 shares in the last quarter. 17.79% of the stock is owned by institutional investors and hedge funds.

Atour Lifestyle Price Performance

ATAT stock opened at $26.89 on Wednesday. The company has a market cap of $3.70 billion, a price-to-earnings ratio of 23.18, a price-to-earnings-growth ratio of 0.65 and a beta of 0.52. The company has a fifty day moving average price of $26.72 and a 200 day moving average price of $22.35. Atour Lifestyle Holdings Limited has a 12 month low of $15.22 and a 12 month high of $29.90.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group began coverage on Atour Lifestyle in a research report on Monday, December 9th. They issued a “buy” rating and a $34.40 target price for the company.

Atour Lifestyle Profile

Atour Lifestyle Holdings Limited, through its subsidiaries, develops lifestyle brands around hotel offerings in the People’s Republic of China. The company provides hotel management services, including day-to-day management services of the hotels for the franchisees; and sells hotel supplies and other products.