7,599 Shares in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT) Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon Corp acquired a position in Atour Lifestyle Holdings by purchasing 7,599 shares valued at approximately $215,000 in the first quarter.
• Atour Lifestyle declared an annual dividend of $0.42 per share, which is an increase from the previous $0.40, representing a dividend yield of 130.0%.
• Analysts have mixed ratings on Atour Lifestyle with one downgrade to "hold" and a price target increase by Citigroup to $38.00, indicating varying confidence in the stock's performance.

Bank of New York Mellon Corp bought a new position in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 7,599 shares of the company's stock, valued at approximately $215,000.

Other hedge funds also recently bought and sold shares of the company. Pictet Asset Management Holding SA bought a new position in Atour Lifestyle in the 4th quarter worth $155,000. AdvisorShares Investments LLC bought a new position in shares of Atour Lifestyle during the 4th quarter valued at about $188,000. Robeco Institutional Asset Management B.V. bought a new position in shares of Atour Lifestyle during the 1st quarter valued at about $209,000. Deutsche Bank AG bought a new position in shares of Atour Lifestyle during the 4th quarter valued at about $235,000. Finally, Lighthouse Investment Partners LLC bought a new position in shares of Atour Lifestyle during the 4th quarter valued at about $296,000. Institutional investors own 17.79% of the company's stock.

Atour Lifestyle Trading Down 4.2%

Shares of NASDAQ:ATAT opened at $33.18 on Wednesday. Atour Lifestyle Holdings Limited Sponsored ADR has a 12 month low of $16.04 and a 12 month high of $37.46. The company has a 50-day moving average price of $33.35 and a 200 day moving average price of $29.82. The company has a market cap of $4.59 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 1.00 and a beta of 0.82.

Atour Lifestyle declared that its Board of Directors has approved a share buyback plan on Thursday, May 22nd that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Atour Lifestyle Increases Dividend

The firm also recently declared an annual dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were issued a $0.42 dividend. This represents a dividend yield of 130.0%. The ex-dividend date of this dividend was Monday, June 2nd. This is a positive change from Atour Lifestyle's previous annual dividend of $0.40. Atour Lifestyle's payout ratio is 30.95%.

Analyst Ratings Changes

ATAT has been the subject of several research reports. Wall Street Zen downgraded shares of Atour Lifestyle from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Citigroup reissued a "buy" rating and set a $38.00 price objective (up previously from $36.50) on shares of Atour Lifestyle in a report on Friday, May 23rd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate 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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