Sumitomo Mitsui Trust Group Inc. Makes New Investment in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT)

Sumitomo Mitsui Trust Group Inc. 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 & Exchange Commission. The fund purchased 28,525 shares of the company's stock, valued at approximately $809,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in Atour Lifestyle by 39.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,413,593 shares of the company's stock worth $38,012,000 after acquiring an additional 402,974 shares during the last quarter. Northern Trust Corp raised its stake in Atour Lifestyle by 139.3% during the fourth quarter. Northern Trust Corp now owns 75,476 shares of the company's stock worth $2,030,000 after purchasing an additional 43,931 shares during the period. Prudential Financial Inc. purchased a new position in Atour Lifestyle during the fourth quarter worth about $1,718,000. Arrowstreet Capital Limited Partnership raised its stake in Atour Lifestyle by 1,250.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 444,844 shares of the company's stock worth $11,962,000 after purchasing an additional 411,893 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in Atour Lifestyle during the first quarter worth about $1,030,000. 17.79% of the stock is currently owned by institutional investors and hedge funds.

Atour Lifestyle Price Performance

Shares of ATAT stock traded up $0.96 during trading hours on Wednesday, hitting $36.21. The company had a trading volume of 1,131,192 shares, compared to its average volume of 1,292,826. The company's fifty day moving average is $30.97 and its 200 day moving average is $28.65. Atour Lifestyle Holdings Limited Sponsored ADR has a fifty-two week low of $15.22 and a fifty-two week high of $36.24. The stock has a market capitalization of $5.00 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 1.02 and a beta of 0.82.

Atour Lifestyle declared that its Board of Directors has approved a stock repurchase program on Thursday, May 22nd that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication 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. Stockholders of record on Monday, June 2nd were issued a $0.42 dividend. This is a positive change from Atour Lifestyle's previous annual dividend of $0.40. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, June 2nd. Atour Lifestyle's dividend payout ratio is currently 30.95%.

Analyst Upgrades and Downgrades

ATAT has been the topic of a number of analyst reports. Wall Street Zen raised shares of Atour Lifestyle from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Bank of America increased their price target on Atour Lifestyle from $35.30 to $36.80 and gave the stock a "buy" rating in a report on Friday, March 14th. Finally, 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. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average 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.