OVERSEA CHINESE BANKING Corp Ltd Raises Holdings in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT)

OVERSEA CHINESE BANKING Corp Ltd grew its position in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT - Free Report) by 1,544.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,885,583 shares of the company's stock after buying an additional 6,466,787 shares during the period. Atour Lifestyle accounts for approximately 0.9% of OVERSEA CHINESE BANKING Corp Ltd's investment portfolio, making the stock its 22nd largest position. OVERSEA CHINESE BANKING Corp Ltd owned 5.00% of Atour Lifestyle worth $195,206,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Pictet Asset Management Holding SA purchased a new stake in shares of Atour Lifestyle during the fourth quarter worth approximately $155,000. AdvisorShares Investments LLC purchased a new stake in shares of Atour Lifestyle in the 4th quarter valued at approximately $188,000. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Atour Lifestyle in the 1st quarter valued at approximately $209,000. Bank of New York Mellon Corp acquired a new stake in shares of Atour Lifestyle in the 1st quarter valued at $215,000. Finally, Deutsche Bank AG acquired a new position in shares of Atour Lifestyle during the fourth quarter worth $235,000. Institutional investors and hedge funds own 17.79% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Citigroup reaffirmed a "buy" rating and issued a $38.00 price target (up from $36.50) on shares of Atour Lifestyle in a report on Friday, May 23rd. Wall Street Zen downgraded shares of Atour Lifestyle from a "buy" rating to a "hold" rating in a research report on Saturday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.63.

Atour Lifestyle Trading Up 0.1%

Shares of Atour Lifestyle stock traded up $0.05 during trading on Monday, reaching $35.51. The company's stock had a trading volume of 1,123,039 shares, compared to its average volume of 1,358,080. The firm has a market cap of $4.91 billion, a PE ratio of 28.18, a P/E/G ratio of 1.01 and a beta of 0.82. The company has a 50-day moving average price of $31.41 and a two-hundred day moving average price of $28.75. Atour Lifestyle Holdings Limited Sponsored ADR has a fifty-two week low of $15.22 and a fifty-two week high of $37.46.

Atour Lifestyle Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were given a $0.42 dividend. This represents a yield of 1.3%. 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 dividend payout ratio (DPR) is 30.95%.

Atour Lifestyle announced that its board has approved a stock buyback program 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 programs are often a sign that the company's board believes its shares are undervalued.

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.