Nuveen Asset Management LLC Grows Stock Holdings in Atour Lifestyle Holdings Limited (NASDAQ:ATAT)

Nuveen Asset Management LLC boosted its holdings in shares of Atour Lifestyle Holdings Limited (NASDAQ:ATAT - Free Report) by 191.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,900 shares of the company's stock after acquiring an additional 43,300 shares during the period. Nuveen Asset Management LLC's holdings in Atour Lifestyle were worth $1,772,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Norges Bank bought a new stake in Atour Lifestyle during the 4th quarter valued at about $36,489,000. OLP CAPITAL MANAGEMENT Ltd increased its stake in Atour Lifestyle by 17.1% during the 4th quarter. OLP CAPITAL MANAGEMENT Ltd now owns 7,202,395 shares of the company's stock valued at $193,672,000 after purchasing an additional 1,052,822 shares in the last quarter. William Blair Investment Management LLC bought a new stake in Atour Lifestyle during the 4th quarter valued at about $24,433,000. 3G Capital Partners LP increased its stake in Atour Lifestyle by 263.6% during the 4th quarter. 3G Capital Partners LP now owns 1,000,000 shares of the company's stock valued at $26,890,000 after purchasing an additional 725,000 shares in the last quarter. Finally, Millennium Management LLC increased its stake in Atour Lifestyle by 157.7% during the 4th quarter. Millennium Management LLC now owns 883,272 shares of the company's stock valued at $23,751,000 after purchasing an additional 540,491 shares in the last quarter. 17.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ATAT shares. Citigroup restated 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 objective on shares of Atour Lifestyle from $35.30 to $36.80 and gave the company a "buy" rating in a research note on Friday, March 14th. Wall Street Zen lowered shares of Atour Lifestyle from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 30th. Finally, UBS Group set a $37.30 price target on shares of Atour Lifestyle and gave the stock a "buy" rating in a research note on Thursday, March 6th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.63.

Atour Lifestyle Stock Performance

Shares of ATAT stock traded down $0.23 during trading hours on Friday, reaching $31.03. The company had a trading volume of 943,572 shares, compared to its average volume of 1,282,165. The business has a fifty day moving average price of $27.23 and a 200-day moving average price of $27.71. The firm has a market cap of $4.29 billion, a PE ratio of 26.75, a price-to-earnings-growth ratio of 0.59 and a beta of 0.83. Atour Lifestyle Holdings Limited has a one year low of $15.22 and a one year high of $34.23.

Atour Lifestyle (NASDAQ:ATAT - Get Free Report) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.03. Atour Lifestyle had a net margin of 17.43% and a return on equity of 48.26%. The business had revenue of $285.58 million during the quarter, compared to analyst estimates of $275.49 million. Equities research analysts forecast that Atour Lifestyle Holdings Limited will post 1.24 EPS for the current year.

Atour Lifestyle Increases Dividend

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

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

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.