Arrowstreet Capital Limited Partnership Boosts Holdings in Atour Lifestyle Holdings Limited Sponsored ADR $ATAT

Arrowstreet Capital Limited Partnership boosted its position in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT) by 135.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 806,445 shares of the company’s stock after acquiring an additional 463,656 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.58% of Atour Lifestyle worth $26,218,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its holdings in Atour Lifestyle by 867.6% in the first quarter. The Manufacturers Life Insurance Company now owns 645,399 shares of the company’s stock valued at $18,297,000 after purchasing an additional 578,697 shares during the last quarter. BRIGHT VALLEY CAPITAL Ltd bought a new stake in Atour Lifestyle during the first quarter valued at $8,505,000. ABN Amro Investment Solutions bought a new stake in shares of Atour Lifestyle during the 2nd quarter valued at about $3,601,000. AIA Group Ltd bought a new stake in shares of Atour Lifestyle in the 1st quarter worth approximately $307,000. Finally, Hel Ved Capital Management Ltd bought a new stake in Atour Lifestyle in the second quarter valued at $2,724,000. 17.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ATAT has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Atour Lifestyle from a “hold” rating to a “buy” rating in a report on Friday, September 5th. Jefferies Financial Group began coverage on shares of Atour Lifestyle in a report on Monday, September 29th. They set a “buy” rating and a $48.00 price target for the company. JPMorgan Chase & Co. started coverage on shares of Atour Lifestyle in a research report on Wednesday, November 12th. They set an “overweight” rating and a $57.00 price objective on the stock. Zacks Research upgraded Atour Lifestyle from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 18th. Finally, Macquarie boosted their price objective on shares of Atour Lifestyle from $39.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $43.21.

Atour Lifestyle Price Performance

Shares of NASDAQ:ATAT opened at $42.89 on Friday. The company has a 50 day moving average of $38.33 and a 200-day moving average of $36.14. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 29.18, a P/E/G ratio of 1.17 and a beta of 0.80. Atour Lifestyle Holdings Limited Sponsored ADR has a one year low of $21.50 and a one year high of $43.17.

Atour Lifestyle (NASDAQ:ATAT) last announced its quarterly earnings results on Tuesday, November 25th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. Atour Lifestyle had a net margin of 16.21% and a return on equity of 44.62%. The company had revenue of $368.95 million for the quarter, compared to analysts’ expectations of $340.27 million. Equities research analysts anticipate that Atour Lifestyle Holdings Limited Sponsored ADR will post 1.24 earnings per share for the current year.

Atour Lifestyle Cuts Dividend

The firm also recently declared an annual dividend, which will be paid on Monday, December 22nd. Shareholders of record on Friday, December 5th will be given a dividend of $0.36 per share. This represents a yield of 84.0%. The ex-dividend date of this dividend is Friday, December 5th. Atour Lifestyle’s payout ratio is 26.53%.

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.