Lbp Am Sa Invests $3.54 Million in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT)

LBP AM SA acquired a new stake in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 124,944 shares of the company's stock, valued at approximately $3,542,000. LBP AM SA owned approximately 0.09% of Atour Lifestyle at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its position in shares of Atour Lifestyle by 3.0% in the first quarter. Envestnet Asset Management Inc. now owns 53,827 shares of the company's stock valued at $1,526,000 after buying an additional 1,549 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Atour Lifestyle in the first quarter valued at $215,000. Calamos Advisors LLC purchased a new position in Atour Lifestyle during the 1st quarter valued at about $823,000. Principal Financial Group Inc. purchased a new position in Atour Lifestyle during the 1st quarter valued at about $68,322,000. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new position in Atour Lifestyle during the 1st quarter valued at about $809,000. 17.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ATAT shares. Citigroup reissued a "buy" rating and set a $38.00 price objective (up from $36.50) on shares of Atour Lifestyle in a research note on Friday, May 23rd. Bank of America raised their price target on Atour Lifestyle from $35.30 to $36.80 and gave the stock a "buy" rating in a research report on Friday, March 14th. Finally, Wall Street Zen upgraded Atour Lifestyle from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $36.63.

Atour Lifestyle Price Performance

ATAT stock traded down $0.57 during midday trading on Friday, hitting $35.46. The stock had a trading volume of 1,533,763 shares, compared to its average volume of 1,291,710. The firm has a market cap of $4.90 billion, a PE ratio of 28.59, a price-to-earnings-growth ratio of 1.03 and a beta of 0.82. Atour Lifestyle Holdings Limited Sponsored ADR has a 12-month low of $15.22 and a 12-month high of $37.46. The company's 50-day moving average price is $31.20 and its 200 day moving average price is $28.71.

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

Atour Lifestyle Increases Dividend

The firm also recently declared an annual dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd were issued a $0.42 dividend. This is a boost from Atour Lifestyle's previous annual dividend of $0.40. The ex-dividend date was Monday, June 2nd. This represents a yield of 1.3%. Atour Lifestyle's payout ratio is 30.95%.

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.