Short Interest in Atour Lifestyle Holdings Limited (NASDAQ:ATAT) Drops By 17.9%

Atour Lifestyle Holdings Limited (NASDAQ:ATAT) was the target of a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 4,130,000 shares, a drop of 17.9% from the March 31st total of 5,030,000 shares. Approximately 3.8% of the shares of the company are short sold. Based on an average trading volume of 1,400,000 shares, the days-to-cover ratio is presently 3.0 days.

Institutional Investors Weigh In On Atour Lifestyle

A number of institutional investors and hedge funds have recently made changes to their positions in ATAT. Pictet Asset Management Holding SA bought a new stake in shares of Atour Lifestyle during the 4th quarter valued at about $155,000. AdvisorShares Investments LLC purchased a new stake in Atour Lifestyle in the fourth quarter valued at approximately $188,000. Robeco Institutional Asset Management B.V. bought a new stake in Atour Lifestyle during the first quarter valued at approximately $209,000. Cornerstone Investment Partners LLC bought a new stake in Atour Lifestyle during the fourth quarter valued at approximately $213,000. Finally, Bank of New York Mellon Corp purchased a new position in Atour Lifestyle in the 1st quarter worth approximately $215,000. Hedge funds and other institutional investors own 17.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ATAT. UBS Group set a $37.30 price target on shares of Atour Lifestyle and gave the stock a “buy” rating in a research note on Thursday, March 6th. Bank of America increased 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 Stock Performance

NASDAQ:ATAT opened at $24.70 on Friday. The business’s fifty day moving average is $27.22 and its 200 day moving average is $27.11. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 21.29, a PEG ratio of 0.59 and a beta of 0.51. Atour Lifestyle has a 52-week low of $15.22 and a 52-week high of $33.32.

Atour Lifestyle (NASDAQ:ATAT) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $285.58 million for the quarter, compared to the consensus estimate of $275.49 million. Atour Lifestyle had a net margin of 17.43% and a return on equity of 48.26%. Equities analysts predict that Atour Lifestyle will post 1.24 EPS for the current fiscal year.

About Atour Lifestyle

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.