30,280 Shares in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT) Acquired by Pinpoint Asset Management Ltd

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 bought a new position in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 30,280 shares of the company's stock, valued at approximately $858,000.

Other hedge funds have also recently modified their holdings of the company. Pictet Asset Management Holding SA acquired a new position in Atour Lifestyle in the 4th quarter worth about $155,000. AdvisorShares Investments LLC acquired a new position in Atour Lifestyle in the 4th quarter worth about $188,000. Robeco Institutional Asset Management B.V. acquired a new position in Atour Lifestyle in the 1st quarter worth about $209,000. Pinnacle Associates Ltd. acquired a new position in Atour Lifestyle in the 1st quarter worth about $213,000. Finally, Bank of New York Mellon Corp acquired a new position in Atour Lifestyle in the 1st quarter worth about $215,000. Hedge funds and other institutional investors own 17.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Wall Street Zen cut Atour Lifestyle from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Citigroup reissued a "buy" rating and set a $38.00 target price (up previously 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 assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $36.63.

Atour Lifestyle Price Performance

Shares of NASDAQ:ATAT traded down $0.42 during midday trading on Monday, hitting $34.95. The company had a trading volume of 253,238 shares, compared to its average volume of 1,321,609. Atour Lifestyle Holdings Limited Sponsored ADR has a twelve month low of $16.17 and a twelve month high of $37.46. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 27.74, a price-to-earnings-growth ratio of 1.04 and a beta of 0.82. The business's 50-day simple moving average is $33.54 and its 200-day simple moving average is $30.03.

Atour Lifestyle Increases Dividend

The firm 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. The ex-dividend date was Monday, June 2nd. This is a positive change from Atour Lifestyle's previous annual dividend of $0.40. This represents a yield of 130.0%. Atour Lifestyle's dividend payout ratio (DPR) is currently 30.95%.

Atour Lifestyle declared that its Board of Directors has authorized a stock repurchase program on Thursday, May 22nd that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.

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.