E Fund Management Co. Ltd. Invests $1.38 Million in Atour Lifestyle Holdings Limited Sponsored ADR $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. purchased a new stake in shares of Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 48,532 shares of the company's stock, valued at approximately $1,376,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Atlas Capital Advisors Inc. purchased a new stake in shares of Atour Lifestyle in the 1st quarter worth about $27,000. Leading Securities Co Ltd grew its position in shares of Atour Lifestyle by 2.2% in the 1st quarter. Leading Securities Co Ltd now owns 53,226 shares of the company's stock worth $1,509,000 after buying an additional 1,137 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Atour Lifestyle by 3.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 53,827 shares of the company's stock worth $1,526,000 after buying an additional 1,549 shares during the period. Jump Financial LLC grew its position in shares of Atour Lifestyle by 1.5% in the 4th quarter. Jump Financial LLC now owns 180,409 shares of the company's stock worth $4,851,000 after buying an additional 2,620 shares during the period. Finally, Deutsche Bank AG grew its position in shares of Atour Lifestyle by 31.0% in the 1st quarter. Deutsche Bank AG now owns 11,438 shares of the company's stock worth $324,000 after buying an additional 2,708 shares during the period. 17.79% of the stock is currently owned by institutional investors.

Atour Lifestyle Price Performance

ATAT stock traded down $0.01 during trading on Monday, hitting $34.87. 641,391 shares of the stock traded hands, compared to its average volume of 1,305,141. Atour Lifestyle Holdings Limited Sponsored ADR has a 1 year low of $16.17 and a 1 year high of $37.46. The firm's 50 day moving average is $33.93 and its two-hundred day moving average is $30.29. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of 27.67, a price-to-earnings-growth ratio of 1.02 and a beta of 0.82.

Atour Lifestyle Increases Dividend

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

Atour Lifestyle declared that its board has initiated a stock buyback plan on Thursday, May 22nd that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

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.