Penserra Capital Management LLC Sells 77,966 Shares of Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT)

Penserra Capital Management LLC lowered its holdings in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT - Free Report) by 92.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,528 shares of the company's stock after selling 77,966 shares during the quarter. Penserra Capital Management LLC's holdings in Atour Lifestyle were worth $185,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in ATAT. Bank of New York Mellon Corp bought a new position in shares of Atour Lifestyle in the 1st quarter valued at about $215,000. Calamos Advisors LLC acquired a new stake in Atour Lifestyle during the 1st quarter worth $823,000. Principal Financial Group Inc. bought a new stake in shares of Atour Lifestyle during the 1st quarter valued at $68,322,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in Atour Lifestyle in the first quarter valued at about $809,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Atour Lifestyle by 3,189.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,582,975 shares of the company's stock valued at $73,227,000 after purchasing an additional 2,504,461 shares during the period. Institutional investors own 17.79% of the company's stock.

Atour Lifestyle Stock Down 1.1%

Shares of Atour Lifestyle stock traded down $0.40 during trading on Wednesday, reaching $35.53. The company's stock had a trading volume of 1,302,046 shares, compared to its average volume of 1,290,856. Atour Lifestyle Holdings Limited Sponsored ADR has a 52 week low of $15.22 and a 52 week high of $37.46. The business's 50-day moving average price is $31.83 and its 200-day moving average price is $28.86. The firm has a market cap of $4.91 billion, a PE ratio of 28.20, a P/E/G ratio of 1.01 and a beta of 0.82.

Atour Lifestyle declared that its board has approved a share repurchase program on Thursday, May 22nd that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are undervalued.

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 dividend of $0.42 per share. This is a boost from Atour Lifestyle's previous annual dividend of $0.40. The ex-dividend date was Monday, June 2nd. This represents a yield of 1.3%. Atour Lifestyle's dividend payout ratio is currently 30.95%.

Wall Street Analysts Forecast Growth

ATAT has been the topic of several research analyst reports. Wall Street Zen downgraded shares of Atour Lifestyle from a "buy" rating to a "hold" rating in a report on Saturday. Citigroup reaffirmed a "buy" rating and set a $38.00 price target (up from $36.50) on shares of Atour Lifestyle in a research report on Friday, May 23rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $36.63.

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.