Nuveen Asset Management LLC Acquires 43,300 Shares of Atour Lifestyle Holdings Limited (NASDAQ:ATAT)

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

A number of other institutional investors and hedge funds have also modified their holdings of ATAT. Norges Bank acquired a new stake in shares of Atour Lifestyle in the fourth quarter worth $36,489,000. OLP CAPITAL MANAGEMENT Ltd raised 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 during the last quarter. William Blair Investment Management LLC acquired a new position in Atour Lifestyle during the 4th quarter valued at $24,433,000. 3G Capital Partners LP raised 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 during the last quarter. Finally, Millennium Management LLC raised 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 during the last quarter. 17.79% of the stock is currently owned by institutional investors and hedge funds.

Atour Lifestyle Price Performance

Shares of ATAT traded down $0.17 during trading hours on Thursday, hitting $31.26. The stock had a trading volume of 705,903 shares, compared to its average volume of 1,279,617. The company's fifty day moving average is $27.12 and its two-hundred day moving average is $27.64. Atour Lifestyle Holdings Limited has a 52 week low of $15.22 and a 52 week high of $34.23. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 26.95, a P/E/G ratio of 0.59 and a beta of 0.59.

Atour Lifestyle (NASDAQ:ATAT - Get Free Report) last posted its earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $275.49 million. Equities analysts predict that Atour Lifestyle Holdings Limited will post 1.24 EPS for the current fiscal year.

Atour Lifestyle announced that its Board of Directors has approved a share repurchase program 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. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Atour Lifestyle Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Bank of America upped their target price 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. Citigroup restated a "buy" rating and issued a $38.00 price objective (up previously from $36.50) on shares of Atour Lifestyle in a research note on Friday, May 23rd. Wall Street Zen cut 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 objective on shares of Atour Lifestyle and gave the company a "buy" rating in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.63.

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.