1832 Asset Management L.P. Takes $3.62 Million Position in Atour Lifestyle Holdings Limited Sponsored ADR $ATAT

Key Points

• 1832 Asset Management L.P. has acquired a new position in Atour Lifestyle Holdings Limited, purchasing 127,700 shares valued at approximately $3.62 million, which represents about 0.09% of the company's stock.
• Atour Lifestyle has received positive analyst coverage, with a current consensus rating of "Buy" and a recent price target increase to $38.00 from Citigroup, while the average price target stands at $36.63.
• The company has initiated a stock repurchase program, signaling confidence from management that its shares may be undervalued.

1832 Asset Management L.P. acquired a new position in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 127,700 shares of the company's stock, valued at approximately $3,620,000. 1832 Asset Management L.P. owned approximately 0.09% of Atour Lifestyle as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Atlas Capital Advisors Inc. purchased a new stake in shares of Atour Lifestyle during the 1st quarter valued at about $27,000. Summit Securities Group LLC bought a new position in Atour Lifestyle during the first quarter valued at approximately $71,000. AdvisorShares Investments LLC purchased a new stake in Atour Lifestyle in the fourth quarter worth approximately $188,000. Robeco Institutional Asset Management B.V. bought a new stake in Atour Lifestyle in the 1st quarter worth approximately $209,000. Finally, Pinnacle Associates Ltd. purchased a new stake in Atour Lifestyle during the 1st quarter valued at $213,000. Hedge funds and other institutional investors own 17.79% of the company's stock.

Atour Lifestyle Price Performance

NASDAQ:ATAT opened at $35.73 on Monday. Atour Lifestyle Holdings Limited Sponsored ADR has a one year low of $16.17 and a one year high of $37.46. The business has a fifty day moving average price of $34.24 and a 200-day moving average price of $30.56. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 28.36, a price-to-earnings-growth ratio of 1.05 and a beta of 0.82.

Atour Lifestyle declared that its board has approved a stock repurchase program on Thursday, May 22nd that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Citigroup restated a "buy" rating and issued a $38.00 price target (up from $36.50) on shares of Atour Lifestyle in a research note on Friday, May 23rd. Wall Street Zen cut Atour Lifestyle from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $36.63.

Atour Lifestyle Company 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.

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