Virtu Financial LLC Acquires New Stake in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT)

Key Points

• Virtu Financial LLC acquired 18,125 shares of Atour Lifestyle Holdings Limited, valued at approximately $514,000, indicating growing institutional interest in the company.
• Atour Lifestyle recently raised its annual dividend from $0.40 to $0.42, reflecting a dividend yield of 130.0% and a payout ratio of 30.95%.
• Despite a recent downgrade to a "hold" rating from Wall Street Zen, other analysts maintain a consensus rating of "Moderate Buy" with a price target averaging $36.63.

Virtu Financial LLC acquired a new stake in shares of Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 18,125 shares of the company's stock, valued at approximately $514,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ATAT. Sumitomo Mitsui Trust Group Inc. bought a new position in Atour Lifestyle in the 1st quarter worth about $809,000. Principal Financial Group Inc. bought a new position in Atour Lifestyle in the 1st quarter worth about $68,322,000. Northern Trust Corp increased its stake in Atour Lifestyle by 139.3% in the 4th quarter. Northern Trust Corp now owns 75,476 shares of the company's stock worth $2,030,000 after acquiring an additional 43,931 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new position in Atour Lifestyle in the 1st quarter worth about $1,030,000. Finally, Deutsche Bank AG bought a new position in Atour Lifestyle in the 4th quarter worth about $235,000. 17.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on ATAT. Citigroup reiterated a "buy" rating and issued a $38.00 price objective (up from $36.50) on shares of Atour Lifestyle in a report on Friday, May 23rd. Wall Street Zen cut 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 issued a buy rating to the stock. According to MarketBeat, Atour Lifestyle has a consensus rating of "Moderate Buy" and a consensus target price of $36.63.

Atour Lifestyle Trading Up 1.2%

Shares of ATAT traded up $0.40 during midday trading on Friday, reaching $34.88. The stock had a trading volume of 515,317 shares, compared to its average volume of 1,041,363. The company's 50-day moving average is $33.93 and its 200 day moving average is $30.26. Atour Lifestyle Holdings Limited Sponsored ADR has a 12-month low of $16.17 and a 12-month high of $37.46. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 1.02 and a beta of 0.82.

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

Atour Lifestyle Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd were issued a $0.42 dividend. This is an increase from Atour Lifestyle's previous annual dividend of $0.40. The ex-dividend date was Monday, June 2nd. This represents a yield of 130.0%. Atour Lifestyle's dividend payout ratio (DPR) is 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.