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

A number of other institutional investors also recently bought and sold shares of the stock. Atlas Capital Advisors Inc. bought a new stake in Atour Lifestyle in the first quarter worth $27,000. Leading Securities Co Ltd lifted its position in Atour Lifestyle by 2.2% in the first quarter. Leading Securities Co Ltd now owns 53,226 shares of the company's stock worth $1,509,000 after buying an additional 1,137 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Atour Lifestyle by 3.0% in the first quarter. Envestnet Asset Management Inc. now owns 53,827 shares of the company's stock worth $1,526,000 after buying an additional 1,549 shares during the last quarter. Jump Financial LLC lifted its position in Atour Lifestyle by 1.5% in the fourth quarter. Jump Financial LLC now owns 180,409 shares of the company's stock worth $4,851,000 after buying an additional 2,620 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in Atour Lifestyle by 31.0% in the first quarter. Deutsche Bank AG now owns 11,438 shares of the company's stock worth $324,000 after buying an additional 2,708 shares during the last quarter. 17.79% of the stock is currently owned by institutional investors.

Atour Lifestyle Trading Up 1.2%

Shares of Atour Lifestyle stock traded up $0.40 during trading on Friday, hitting $34.88. 515,317 shares of the stock traded hands, compared to its average volume of 1,041,363. The firm has a market cap of $4.82 billion, a P/E ratio of 27.68, a price-to-earnings-growth ratio of 1.01 and a beta of 0.82. Atour Lifestyle Holdings Limited Sponsored ADR has a 52-week low of $16.17 and a 52-week high of $37.46. The stock's fifty day simple moving average is $33.93 and its 200 day simple moving average is $30.26.

Atour Lifestyle declared that its board has initiated a stock repurchase plan 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. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Atour Lifestyle Increases Dividend

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

Analysts Set New Price Targets

ATAT has been the topic of a number of recent analyst reports. Citigroup reiterated a "buy" rating and issued a $38.00 target price (up previously from $36.50) on shares of Atour Lifestyle in a research note on Friday, May 23rd. Wall Street Zen lowered Atour Lifestyle from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.