CenterBook Partners LP Has $753,000 Stock Position in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT)

Key Points

• CenterBook Partners LP reduced its stake in Atour Lifestyle Holdings by 44.4%, selling 21,191 shares and now holding 26,577 shares worth $753,000.
• Atour Lifestyle announced a dividend increase from $0.40 to $0.42, representing a 130% yield, with a payout ratio of 30.95%.
• Analysts provide mixed ratings on ATAT, with Citigroup upgrading its target price to $38.00 while Wall Street Zen downgraded it to a "hold", highlighting an average price target of $36.63.

CenterBook Partners LP trimmed its holdings in shares of Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT - Free Report) by 44.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,577 shares of the company's stock after selling 21,191 shares during the period. CenterBook Partners LP's holdings in Atour Lifestyle were worth $753,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. American Century Companies Inc. grew its stake in Atour Lifestyle by 3.8% in the fourth quarter. American Century Companies Inc. now owns 62,772 shares of the company's stock valued at $1,688,000 after purchasing an additional 2,321 shares in the last quarter. Pictet Asset Management Holding SA purchased a new position in Atour Lifestyle in the fourth quarter valued at about $155,000. O Shaughnessy Asset Management LLC purchased a new position in Atour Lifestyle in the fourth quarter valued at about $394,000. Wellington Management Group LLP grew its stake in Atour Lifestyle by 430.2% in the fourth quarter. Wellington Management Group LLP now owns 255,727 shares of the company's stock valued at $6,876,000 after purchasing an additional 207,499 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in Atour Lifestyle by 758.5% in the fourth quarter. Alliancebernstein L.P. now owns 83,098 shares of the company's stock valued at $2,235,000 after purchasing an additional 73,418 shares in the last quarter. 17.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on ATAT. Citigroup restated 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 downgraded Atour Lifestyle from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. One investment 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.com, Atour Lifestyle has a consensus rating of "Moderate Buy" and an average price target of $36.63.

Atour Lifestyle Stock Performance

Shares of ATAT traded up $0.43 during trading hours on Friday, hitting $35.37. 821,042 shares of the company were exchanged, compared to its average volume of 1,162,546. The company has a market cap of $4.89 billion, a PE ratio of 28.07, a PEG ratio of 1.03 and a beta of 0.82. The firm's 50 day moving average is $33.54 and its 200-day moving average is $30.00. Atour Lifestyle Holdings Limited Sponsored ADR has a 52 week low of $16.17 and a 52 week high of $37.46.

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

Atour Lifestyle Increases Dividend

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

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.