Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT) Shares Acquired by OVERSEA CHINESE BANKING Corp Ltd

Key Points

• OVERSEA CHINESE BANKING Corp Ltd increased its stake in Atour Lifestyle Holdings by 31.4%, holding 550,092 shares worth approximately $15.6 million.
• Atour Lifestyle's board approved a share buyback plan, suggesting the company's leadership believes its shares are undervalued.
• Atour Lifestyle has declared an increase in its annual dividend to $0.42 per share, up from the previous $0.40, representing a yield of 130.0%.

OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT - Free Report) by 31.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 550,092 shares of the company's stock after acquiring an additional 131,296 shares during the period. OVERSEA CHINESE BANKING Corp Ltd owned 0.40% of Atour Lifestyle worth $15,595,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Leading Securities Co Ltd lifted its holdings 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 valued at $1,509,000 after acquiring an additional 1,137 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings 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 valued at $1,526,000 after acquiring an additional 1,549 shares during the last quarter. American Century Companies Inc. raised its position in Atour Lifestyle by 3.8% in the 4th quarter. American Century Companies Inc. now owns 62,772 shares of the company's stock worth $1,688,000 after purchasing an additional 2,321 shares during the period. Jump Financial LLC raised its position in 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 purchasing an additional 2,620 shares during the period. Finally, Invesco Ltd. raised its position in Atour Lifestyle by 5.4% in the 4th quarter. Invesco Ltd. now owns 67,117 shares of the company's stock worth $1,805,000 after purchasing an additional 3,437 shares during the period. Institutional investors own 17.79% of the company's stock.

Atour Lifestyle Stock Up 1.7%

ATAT stock traded up $0.56 during trading on Wednesday, hitting $33.74. 1,294,730 shares of the company's stock traded hands, compared to its average volume of 1,330,290. The firm has a market capitalization of $4.66 billion, a P/E ratio of 26.77, a PEG ratio of 1.00 and a beta of 0.82. The business has a fifty day simple moving average of $33.35 and a two-hundred day simple moving average of $29.82. Atour Lifestyle Holdings Limited Sponsored ADR has a 1 year low of $16.08 and a 1 year high of $37.46.

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

Atour Lifestyle Increases Dividend

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

Wall Street Analysts Forecast Growth

ATAT has been the topic of a number of recent analyst reports. Citigroup reissued a "buy" rating and issued a $38.00 price objective (up from $36.50) on shares of Atour Lifestyle in a research report on Friday, May 23rd. Wall Street Zen lowered shares of Atour Lifestyle from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average 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.