Envestnet Asset Management Inc. Invests $1.41 Million in Atour Lifestyle Holdings Limited (NASDAQ:ATAT)

Envestnet Asset Management Inc. purchased a new position in Atour Lifestyle Holdings Limited (NASDAQ:ATAT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 52,278 shares of the company’s stock, valued at approximately $1,406,000.

Several other institutional investors and hedge funds also recently bought and sold shares of ATAT. JPMorgan Chase & Co. lifted its stake in shares of Atour Lifestyle by 39.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,413,593 shares of the company’s stock worth $38,012,000 after acquiring an additional 402,974 shares during the last quarter. Norges Bank bought a new stake in shares of Atour Lifestyle during the fourth quarter worth $36,489,000. Schroder Investment Management Group boosted its stake in shares of Atour Lifestyle by 20.3% during the fourth quarter. Schroder Investment Management Group now owns 1,203,723 shares of the company’s stock valued at $31,971,000 after purchasing an additional 203,037 shares during the period. William Blair Investment Management LLC bought a new position in shares of Atour Lifestyle in the fourth quarter worth about $24,433,000. Finally, Prudential PLC increased its stake in Atour Lifestyle by 24.5% in the 4th quarter. Prudential PLC now owns 698,676 shares of the company’s stock worth $18,787,000 after buying an additional 137,459 shares during the period. 17.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ATAT has been the topic of a number of research analyst reports. UBS Group set a $37.30 target price on shares of Atour Lifestyle and gave the stock a “buy” rating in a research note on Thursday, March 6th. Bank of America lifted their price objective on Atour Lifestyle from $35.30 to $36.80 and gave the company a “buy” rating in a report on Friday, March 14th.

Atour Lifestyle Price Performance

Shares of ATAT stock opened at $24.18 on Wednesday. The stock’s 50-day moving average is $27.46 and its 200 day moving average is $27.16. Atour Lifestyle Holdings Limited has a 1-year low of $15.22 and a 1-year high of $33.32. The company has a market cap of $3.33 billion, a P/E ratio of 20.85, a PEG ratio of 0.59 and a beta of 0.51.

Atour Lifestyle (NASDAQ:ATAT) last released its quarterly earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The business had revenue of $285.58 million for the quarter, compared to analysts’ expectations of $275.49 million. Atour Lifestyle had a net margin of 17.43% and a return on equity of 48.26%. On average, analysts anticipate that Atour Lifestyle Holdings Limited will post 1.24 EPS for the current year.

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.