Pinpoint Asset Management Ltd Purchases Shares of 30,280 Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT)

Key Points

• Pinpoint Asset Management Ltd acquired a new stake in Atour Lifestyle Holdings Limited, purchasing 30,280 shares valued at approximately $858,000 in the first quarter.
• Atour Lifestyle announced a dividend increase from $0.40 to $0.42 per share, with a yield of 130.0%, indicating positive growth for the company.
• Analysts have mixed ratings on the stock, with Citigroup increasing its target price to $38.00, while Wall Street Zen downgraded it from "buy" to "hold".

Pinpoint Asset Management Ltd purchased a new stake 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. The fund purchased 30,280 shares of the company's stock, valued at approximately $858,000.

Other institutional investors have also made changes to their positions in the company. Deutsche Bank AG raised its stake in shares of Atour Lifestyle by 31.0% in the 1st quarter. Deutsche Bank AG now owns 11,438 shares of the company's stock valued at $324,000 after acquiring an additional 2,708 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of Atour Lifestyle by 31.4% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 550,092 shares of the company's stock valued at $15,595,000 after acquiring an additional 131,296 shares in the last quarter. Pinnacle Associates Ltd. bought a new position in shares of Atour Lifestyle in the 1st quarter valued at approximately $213,000. Leading Securities Co Ltd raised its stake 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 in the last quarter. Finally, Sigma Planning Corp bought a new position in shares of Atour Lifestyle in the 1st quarter valued at approximately $567,000. 17.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wall Street Zen downgraded Atour Lifestyle from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Citigroup reiterated a "buy" rating and set a $38.00 price target (up from $36.50) on shares of Atour Lifestyle in a report on Friday, May 23rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $36.63.

Atour Lifestyle Stock Up 1.2%

Shares of ATAT stock traded up $0.43 during trading hours on Friday, reaching $35.37. 821,042 shares of the company's stock were exchanged, compared to its average volume of 1,162,546. Atour Lifestyle Holdings Limited Sponsored ADR has a fifty-two week low of $16.17 and a fifty-two week high of $37.46. The stock has a market capitalization of $4.89 billion, a P/E ratio of 28.07, a P/E/G ratio of 1.01 and a beta of 0.82. The business has a fifty day moving average price of $33.54 and a 200-day moving average price of $29.98.

Atour Lifestyle Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Wednesday, June 18th. Stockholders 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. This represents a dividend yield of 130.0%. The ex-dividend date was Monday, June 2nd. Atour Lifestyle's dividend payout ratio (DPR) is presently 30.95%.

Atour Lifestyle announced that its board has initiated a share repurchase plan on Thursday, May 22nd that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its stock is 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.