Sigma Planning Corp Makes New $567,000 Investment in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT)

Sigma Planning Corp purchased a new position in shares of Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 20,000 shares of the company's stock, valued at approximately $567,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. LBP AM SA bought a new stake in shares of Atour Lifestyle in the 1st quarter worth approximately $3,542,000. Envestnet Asset Management Inc. raised its holdings in shares of Atour Lifestyle by 3.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 53,827 shares of the company's stock worth $1,526,000 after purchasing an additional 1,549 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Atour Lifestyle in the 1st quarter worth approximately $215,000. Calamos Advisors LLC bought a new stake in shares of Atour Lifestyle in the 1st quarter worth approximately $823,000. Finally, Principal Financial Group Inc. bought a new stake in shares of Atour Lifestyle in the 1st quarter worth approximately $68,322,000. 17.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ATAT. Citigroup restated a "buy" rating and set a $38.00 price target (up previously from $36.50) on shares of Atour Lifestyle in a report on Friday, May 23rd. Wall Street Zen lowered shares of Atour Lifestyle from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $36.63.

Atour Lifestyle Price Performance

ATAT traded down $0.16 on Friday, reaching $35.93. 530,971 shares of the company traded hands, compared to its average volume of 1,296,092. The stock's 50 day moving average price is $32.31 and its 200-day moving average price is $29.04. Atour Lifestyle Holdings Limited Sponsored ADR has a 52-week low of $15.22 and a 52-week high of $37.46. The company has a market cap of $4.97 billion, a price-to-earnings ratio of 28.52, a PEG ratio of 1.02 and a beta of 0.82.

Atour Lifestyle declared that its Board of Directors has approved a share buyback plan on Thursday, May 22nd that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Atour Lifestyle Increases Dividend

The business 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. The ex-dividend date of this dividend was Monday, June 2nd. This is an increase from Atour Lifestyle's previous annual dividend of $0.40. This represents a yield of 1.3%. Atour Lifestyle's payout ratio is presently 30.95%.

Atour Lifestyle 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.