AIA Group Ltd Makes New $307,000 Investment in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT)

Key Points

• AIA Group Ltd has acquired a new position in Atour Lifestyle Holdings Limited by purchasing 10,820 shares valued at approximately $307,000.
• Notable institutional investors, including OVERSEA CHINESE BANKING Corp Ltd and Mirae Asset Global Investments, have significantly increased their stakes in Atour Lifestyle, reflecting growing interest in the company.
• Atour Lifestyle recently announced an annual dividend of $0.42, representing a yield of 130.0%, which is an increase from the previous year's dividend.

AIA Group Ltd bought a new stake in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,820 shares of the company's stock, valued at approximately $307,000.

Several other large investors also recently added to or reduced their stakes in ATAT. Sumitomo Mitsui Trust Group Inc. purchased a new stake in Atour Lifestyle during the first quarter worth $809,000. Principal Financial Group Inc. purchased a new stake in Atour Lifestyle during the first quarter worth $68,322,000. Northern Trust Corp boosted its position in Atour Lifestyle by 139.3% during the fourth quarter. Northern Trust Corp now owns 75,476 shares of the company's stock worth $2,030,000 after purchasing an additional 43,931 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Atour Lifestyle during the first quarter worth $1,030,000. Finally, Deutsche Bank AG purchased a new stake in Atour Lifestyle during the fourth quarter worth $235,000. 17.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Citigroup restated a "buy" rating and issued a $38.00 price objective (up from $36.50) on shares of Atour Lifestyle in a research report on Friday, May 23rd. Wall Street Zen downgraded Atour Lifestyle from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Atour Lifestyle presently has a consensus rating of "Moderate Buy" and an average target price of $36.63.

Atour Lifestyle Trading Up 1.2%

NASDAQ ATAT traded up $0.40 on Friday, reaching $34.88. The stock had a trading volume of 515,317 shares, compared to its average volume of 1,041,363. Atour Lifestyle Holdings Limited Sponsored ADR has a 1 year low of $16.17 and a 1 year high of $37.46. The business has a 50 day moving average price of $33.93 and a 200 day moving average price of $30.28. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 27.68, a P/E/G ratio of 1.02 and a beta of 0.82.

Atour Lifestyle Increases Dividend

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

Atour Lifestyle announced that its board has approved a share buyback plan on Thursday, May 22nd that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

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.