Citigroup Inc. Purchases 58,146 Shares of Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT)

Key Points

• Citigroup Inc. increased its stake in Atour Lifestyle Holdings by 16.0%, acquiring 58,146 shares, bringing its total ownership to 422,425 shares valued at approximately $11.97 million.
• Atour Lifestyle recently announced an annual dividend of $0.42 per share, reflecting a yield of 130.0%, which is an increase from the previous dividend of $0.40.
• Shares of Atour Lifestyle Holdings traded at $34.88, with a market capitalization of $4.82 billion and a price-to-earnings ratio of 27.68.

Citigroup Inc. grew its stake in shares of Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT - Free Report) by 16.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 422,425 shares of the company's stock after acquiring an additional 58,146 shares during the quarter. Citigroup Inc. owned about 0.31% of Atour Lifestyle worth $11,976,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Atour Lifestyle during the 1st quarter valued at about $809,000. Principal Financial Group Inc. purchased a new stake in shares of Atour Lifestyle during the 1st quarter valued at about $68,322,000. Northern Trust Corp boosted its holdings in shares of Atour Lifestyle by 139.3% during the 4th quarter. Northern Trust Corp now owns 75,476 shares of the company's stock valued at $2,030,000 after acquiring an additional 43,931 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Atour Lifestyle during the 1st quarter valued at about $1,030,000. Finally, Deutsche Bank AG purchased a new stake in shares of Atour Lifestyle during the 4th quarter valued at about $235,000. Hedge funds and other institutional investors own 17.79% of the company's stock.

Wall Street Analyst Weigh In

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

Atour Lifestyle Price Performance

Shares of ATAT traded up $0.40 on Friday, reaching $34.88. The company's stock had a trading volume of 515,317 shares, compared to its average volume of 1,041,363. The stock has a market capitalization of $4.82 billion, a P/E ratio of 27.68, a PEG ratio of 1.02 and a beta of 0.82. The stock's 50 day simple moving average is $33.93 and its two-hundred day simple moving average is $30.28. Atour Lifestyle Holdings Limited Sponsored ADR has a 12-month low of $16.17 and a 12-month high of $37.46.

Atour Lifestyle announced that its board has approved a share repurchase program on Thursday, May 22nd that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.

Atour Lifestyle Increases Dividend

The company also recently announced an annual dividend, which was paid on Wednesday, June 18th. Shareholders 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 (DPR) is 30.95%.

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.