CenterBook Partners LP Has $753,000 Stake 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 lowered 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 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 SEC filing.

A number of other large investors also recently modified their holdings of ATAT. OLP CAPITAL MANAGEMENT Ltd lifted its holdings in shares of Atour Lifestyle by 17.1% in the fourth quarter. OLP CAPITAL MANAGEMENT Ltd now owns 7,202,395 shares of the company's stock valued at $193,672,000 after buying an additional 1,052,822 shares during the period. OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Atour Lifestyle by 1,544.1% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 6,885,583 shares of the company's stock valued at $195,206,000 after purchasing an additional 6,466,787 shares during the period. Bank of America Corp DE boosted its position in shares of Atour Lifestyle by 8.3% in the 4th quarter. Bank of America Corp DE now owns 3,534,543 shares of the company's stock valued at $95,044,000 after purchasing an additional 269,656 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Atour Lifestyle by 3,189.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,582,975 shares of the company's stock valued at $73,227,000 after purchasing an additional 2,504,461 shares during the period. Finally, Principal Financial Group Inc. acquired a new position in Atour Lifestyle during the first quarter valued at $68,322,000. 17.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on ATAT shares. Wall Street Zen lowered Atour Lifestyle from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Citigroup reissued 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. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Atour Lifestyle presently has an average rating of "Moderate Buy" and an average price target of $36.63.

Atour Lifestyle Stock Performance

Shares of Atour Lifestyle stock traded up $0.41 during trading on Tuesday, hitting $35.37. 355,841 shares of the stock traded hands, compared to its average volume of 1,317,424. The stock has a market cap of $4.89 billion, a P/E ratio of 28.07, a PEG ratio of 1.04 and a beta of 0.82. Atour Lifestyle Holdings Limited Sponsored ADR has a twelve month low of $16.17 and a twelve month high of $37.46. The company has a fifty day moving average price of $33.62 and a two-hundred day moving average price of $30.08.

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 issued a dividend of $0.42 per share. The ex-dividend date was Monday, June 2nd. This represents a dividend 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 is presently 30.95%.

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

About Atour Lifestyle

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.