7,500 Shares in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT) Purchased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. acquired a new position in shares of Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,500 shares of the company's stock, valued at approximately $213,000.

Other large investors also recently modified their holdings of the company. Pictet Asset Management Holding SA acquired a new stake in Atour Lifestyle in the fourth quarter worth $155,000. AdvisorShares Investments LLC acquired a new stake in Atour Lifestyle in the fourth quarter worth $188,000. Robeco Institutional Asset Management B.V. acquired a new stake in Atour Lifestyle in the first quarter worth $209,000. Bank of New York Mellon Corp acquired a new stake in Atour Lifestyle in the first quarter worth $215,000. Finally, Deutsche Bank AG acquired a new stake in Atour Lifestyle in the fourth quarter worth $235,000. 17.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ATAT has been the subject of a number of research reports. Wall Street Zen cut shares of Atour Lifestyle from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Citigroup restated 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. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.63.

Atour Lifestyle Price Performance

Shares of NASDAQ ATAT traded down $0.24 during mid-day trading on Friday, reaching $33.59. 865,673 shares of the company's stock traded hands, compared to its average volume of 1,330,932. The stock has a market cap of $4.64 billion, a P/E ratio of 26.70, a PEG ratio of 0.98 and a beta of 0.82. The business has a 50-day simple moving average of $33.24 and a 200 day simple moving average of $29.62. Atour Lifestyle Holdings Limited Sponsored ADR has a 1-year low of $15.22 and a 1-year high of $37.46.

Atour Lifestyle Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.42 per share. This is an increase from Atour Lifestyle's previous annual dividend of $0.40. This represents a dividend yield of 130.0%. The ex-dividend date was Monday, June 2nd. Atour Lifestyle's dividend payout ratio is 30.95%.

Atour Lifestyle declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 22nd that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors 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.