Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT) Holdings Cut by AI Squared Management Ltd

Key Points

• AI Squared Management Ltd reduced its stake in Atour Lifestyle Holdings by 47.1%, now owning 198,030 shares, which represents 5.2% of its investment portfolio.
• Atour Lifestyle recently declared an annual dividend of $0.42, up from $0.40, resulting in a dividend yield of 130.0%.
• Several institutional investors increased their positions in Atour Lifestyle, with Wellington Management raising its stake by 430.2% during the fourth quarter.

AI Squared Management Ltd reduced its position in shares of Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT - Free Report) by 47.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 198,030 shares of the company's stock after selling 176,600 shares during the period. Atour Lifestyle accounts for approximately 5.2% of AI Squared Management Ltd's portfolio, making the stock its 6th largest position. AI Squared Management Ltd owned 0.14% of Atour Lifestyle worth $5,614,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Deutsche Bank AG increased its stake in shares of Atour Lifestyle by 31.0% during the first quarter. Deutsche Bank AG now owns 11,438 shares of the company's stock valued at $324,000 after purchasing an additional 2,708 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of Atour Lifestyle by 31.4% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 550,092 shares of the company's stock valued at $15,595,000 after purchasing an additional 131,296 shares in the last quarter. Pinnacle Associates Ltd. bought a new position in shares of Atour Lifestyle during the first quarter valued at approximately $213,000. Leading Securities Co Ltd increased its position in shares of Atour Lifestyle by 2.2% during the first quarter. Leading Securities Co Ltd now owns 53,226 shares of the company's stock valued at $1,509,000 after acquiring an additional 1,137 shares in the last quarter. Finally, Sigma Planning Corp bought a new stake in shares of Atour Lifestyle during the first quarter valued at approximately $567,000. 17.79% of the stock is currently owned by hedge funds and other institutional investors.

Atour Lifestyle Stock Performance

Shares of ATAT traded up $0.43 during midday trading on Friday, hitting $35.37. 821,042 shares of the company traded hands, compared to its average volume of 1,162,546. The firm has a 50 day moving average of $33.54 and a 200-day moving average of $29.98. Atour Lifestyle Holdings Limited Sponsored ADR has a 52 week low of $16.17 and a 52 week high of $37.46. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 1.01 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%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wall Street Zen cut Atour Lifestyle from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Citigroup reaffirmed a "buy" rating and set a $38.00 price objective (up from $36.50) on shares of Atour Lifestyle in a research report on Friday, May 23rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $36.63.

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.