Sumitomo Mitsui Trust Group Inc. Takes $809,000 Position in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT)

Sumitomo Mitsui Trust Group Inc. acquired a new stake in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 28,525 shares of the company's stock, valued at approximately $809,000.

Several other hedge funds have also added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Atour Lifestyle by 3,189.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,582,975 shares of the company's stock worth $73,227,000 after acquiring an additional 2,504,461 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in shares of Atour Lifestyle in the 1st quarter valued at approximately $209,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Atour Lifestyle during the 1st quarter worth approximately $1,030,000. GAM Holding AG raised its holdings in Atour Lifestyle by 9.5% during the 1st quarter. GAM Holding AG now owns 92,000 shares of the company's stock worth $2,608,000 after buying an additional 8,000 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Atour Lifestyle by 430.2% in the fourth quarter. Wellington Management Group LLP now owns 255,727 shares of the company's stock valued at $6,876,000 after buying an additional 207,499 shares in the last quarter. Institutional investors and hedge funds own 17.79% of the company's stock.

Atour Lifestyle Trading Up 2.7%

Shares of ATAT opened at $33.90 on Friday. Atour Lifestyle Holdings Limited Sponsored ADR has a 12 month low of $15.22 and a 12 month high of $34.23. The firm has a fifty day simple moving average of $30.28 and a 200 day simple moving average of $28.49. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 0.97 and a beta of 0.82.

Atour Lifestyle Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd were issued a $0.42 dividend. This is a boost from Atour Lifestyle's previous annual dividend of $0.40. The ex-dividend date of this dividend was Monday, June 2nd. This represents a dividend yield of 1.3%. Atour Lifestyle's dividend payout ratio (DPR) is presently 30.95%.

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

Analyst Upgrades and Downgrades

ATAT has been the subject of several research reports. Wall Street Zen raised shares of Atour Lifestyle from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Bank of America lifted their price target on Atour Lifestyle from $35.30 to $36.80 and gave the company a "buy" rating in a research note on Friday, March 14th. Finally, 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. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $36.63.

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.

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