Mirae Asset Global Investments Co. Ltd. Has $73.23 Million Stake in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT)

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT - Free Report) by 3,189.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,582,975 shares of the company's stock after purchasing an additional 2,504,461 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 1.88% of Atour Lifestyle worth $73,227,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. bought a new stake in shares of Atour Lifestyle in the 1st quarter valued at $209,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Atour Lifestyle in the first quarter valued at about $1,030,000. GAM Holding AG increased its holdings in shares of Atour Lifestyle by 9.5% in the first quarter. GAM Holding AG now owns 92,000 shares of the company's stock worth $2,608,000 after acquiring an additional 8,000 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Atour Lifestyle by 430.2% during the fourth quarter. Wellington Management Group LLP now owns 255,727 shares of the company's stock worth $6,876,000 after purchasing an additional 207,499 shares during the period. Finally, Mackenzie Financial Corp bought a new position in shares of Atour Lifestyle during the 4th quarter valued at about $5,666,000. Institutional investors own 17.79% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Bank of America increased their target price on Atour Lifestyle from $35.30 to $36.80 and gave the stock a "buy" rating in a research note on Friday, March 14th. Wall Street Zen raised shares of Atour Lifestyle from a "hold" rating to a "buy" rating in a research note on Friday. UBS Group set a $37.30 price target on Atour Lifestyle and gave the company a "buy" rating in a research note on Thursday, March 6th. Finally, Citigroup reaffirmed a "buy" rating and set a $38.00 price objective (up from $36.50) on shares of Atour Lifestyle in a research report on Friday, May 23rd. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $36.63.

Atour Lifestyle Stock Performance

ATAT traded up $0.20 on Tuesday, hitting $32.71. 687,135 shares of the company were exchanged, compared to its average volume of 1,263,596. The stock's fifty day moving average is $29.52 and its 200-day moving average is $28.33. Atour Lifestyle Holdings Limited Sponsored ADR has a 12 month low of $15.22 and a 12 month high of $34.23. The company has a market cap of $4.52 billion, a PE ratio of 25.96, a PEG ratio of 0.94 and a beta of 0.82.

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

Atour Lifestyle Increases Dividend

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

Atour Lifestyle Company 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.