Atour Lifestyle Holdings Limited Sponsored ADR $ATAT Shares Purchased by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company significantly increased its ownership in Atour Lifestyle Holdings by 867.6%, acquiring a total of 645,399 shares worth approximately $18.3 million at the end of the last quarter.
• Atour Lifestyle recently reported earnings of $0.42 per share, surpassing analysts' expectations, and achieved a revenue of $344.49 million for the quarter.
• A share repurchase plan has been authorized by Atour Lifestyle's Board, indicating a belief that the stock may be undervalued in the market.

The Manufacturers Life Insurance Company increased its position in shares of Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT - Free Report) by 867.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 645,399 shares of the company's stock after purchasing an additional 578,697 shares during the period. The Manufacturers Life Insurance Company owned 0.47% of Atour Lifestyle worth $18,297,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. OLP CAPITAL MANAGEMENT Ltd increased its position in Atour Lifestyle by 17.1% during the fourth quarter. OLP CAPITAL MANAGEMENT Ltd now owns 7,202,395 shares of the company's stock worth $193,672,000 after purchasing an additional 1,052,822 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its position in Atour Lifestyle by 1,544.1% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 6,885,583 shares of the company's stock worth $195,206,000 after purchasing an additional 6,466,787 shares during the last quarter. Bank of America Corp DE increased its position in Atour Lifestyle by 8.3% during the fourth quarter. Bank of America Corp DE now owns 3,534,543 shares of the company's stock worth $95,044,000 after purchasing an additional 269,656 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Atour Lifestyle by 3,189.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,582,975 shares of the company's stock worth $73,227,000 after purchasing an additional 2,504,461 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in Atour Lifestyle during the first quarter worth about $68,322,000. 17.79% of the stock is currently owned by institutional investors and hedge funds.

Atour Lifestyle Price Performance

Shares of ATAT opened at $38.63 on Wednesday. Atour Lifestyle Holdings Limited Sponsored ADR has a 1-year low of $18.81 and a 1-year high of $39.84. The stock has a market cap of $5.34 billion, a PE ratio of 27.99, a P/E/G ratio of 1.31 and a beta of 0.83. The firm has a 50-day simple moving average of $35.17 and a two-hundred day simple moving average of $30.98.

Atour Lifestyle (NASDAQ:ATAT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 26th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.01. The firm had revenue of $344.49 million during the quarter, compared to analysts' expectations of $326.00 million. Atour Lifestyle had a net margin of 16.52% and a return on equity of 45.66%. Atour Lifestyle has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Atour Lifestyle Holdings Limited Sponsored ADR will post 1.24 earnings per share for the current fiscal year.

Atour Lifestyle declared that its Board of Directors has authorized a share repurchase 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. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ATAT. Wall Street Zen cut shares of Atour Lifestyle from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Citigroup reiterated a "buy" rating and set a $38.00 price target (up from $36.50) on shares of Atour Lifestyle in a research report on Friday, May 23rd. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Atour Lifestyle currently has an average rating of "Buy" and an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.