E Fund Management Co. Ltd. Takes Position in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT)

Key Points

• E Fund Management Co. Ltd. has acquired a new stake in Atour Lifestyle Holdings Limited, purchasing 48,532 shares valued at approximately $1,376,000.
• A significant increase in institutional ownership has been noted, with OVERSEA CHINESE BANKING Corp Ltd. boosting its stake by 1,544.1% during the first quarter.
• Atour Lifestyle recently declared a dividend increase to $0.42 from the previous $0.40, resulting in a dividend yield of 130.0%.

E Fund Management Co. Ltd. acquired a new position in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 48,532 shares of the company's stock, valued at approximately $1,376,000.

A number of other hedge funds also recently modified their holdings of ATAT. OVERSEA CHINESE BANKING Corp Ltd lifted 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 worth $195,206,000 after acquiring an additional 6,466,787 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted 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 worth $73,227,000 after acquiring an additional 2,504,461 shares during the period. Principal Financial Group Inc. bought a new stake in shares of Atour Lifestyle in the 1st quarter worth approximately $68,322,000. OLP CAPITAL MANAGEMENT Ltd lifted its position in shares of Atour Lifestyle by 17.1% in the 4th quarter. OLP CAPITAL MANAGEMENT Ltd now owns 7,202,395 shares of the company's stock worth $193,672,000 after acquiring an additional 1,052,822 shares during the period. Finally, 3G Capital Partners LP lifted its position in shares of Atour Lifestyle by 263.6% in the 4th quarter. 3G Capital Partners LP now owns 1,000,000 shares of the company's stock worth $26,890,000 after acquiring an additional 725,000 shares during the period. Institutional investors own 17.79% of the company's stock.

Analyst Ratings Changes

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

Atour Lifestyle Stock Up 1.2%

ATAT stock traded up $0.40 during midday trading on Friday, reaching $34.88. 515,317 shares of the company's stock traded hands, compared to its average volume of 1,041,363. The company has a 50-day simple moving average of $33.93 and a two-hundred day simple moving average of $30.28. Atour Lifestyle Holdings Limited Sponsored ADR has a 1-year low of $16.17 and a 1-year high of $37.46. The company has a market cap of $4.82 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 1.02 and a beta of 0.82.

Atour Lifestyle announced that its board has authorized a share buyback plan on Thursday, May 22nd that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Atour Lifestyle Increases Dividend

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