Walleye Capital LLC Purchases 718,240 Shares of Atour Lifestyle Holdings Limited Sponsored ADR $ATAT

Key Points

• Walleye Capital LLC increased its stake in Atour Lifestyle Holdings Limited by 400.8%, acquiring an additional 718,240 shares, bringing its total ownership to approximately 0.65% of the company, valued at $25.4 million.
• Other institutional investors, including OVERSEA CHINESE BANKING Corp Ltd and Mirae Asset Global Investments, have also significantly increased their holdings in Atour Lifestyle, with OVERSEA CHINESE BANKING's stake rising by 1,544.1%.
• Analysts have varied ratings on Atour Lifestyle, with Citigroup maintaining a "buy" rating and raising the target price to $38.00, while Wall Street Zen has downgraded it to a "hold."

Walleye Capital LLC boosted its position in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT - Free Report) by 400.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 897,429 shares of the company's stock after purchasing an additional 718,240 shares during the quarter. Walleye Capital LLC owned approximately 0.65% of Atour Lifestyle worth $25,442,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ATAT. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in Atour Lifestyle by 1,544.1% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 6,885,583 shares of the company's stock worth $195,206,000 after purchasing an additional 6,466,787 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in 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 purchasing an additional 2,504,461 shares in the last quarter. Principal Financial Group Inc. bought a new position in Atour Lifestyle in the first quarter worth about $68,322,000. OLP CAPITAL MANAGEMENT Ltd raised its holdings in Atour Lifestyle by 17.1% in the fourth quarter. OLP CAPITAL MANAGEMENT Ltd now owns 7,202,395 shares of the company's stock worth $193,672,000 after purchasing an additional 1,052,822 shares in the last quarter. Finally, 3G Capital Partners LP raised its holdings in Atour Lifestyle by 263.6% in the fourth quarter. 3G Capital Partners LP now owns 1,000,000 shares of the company's stock worth $26,890,000 after purchasing an additional 725,000 shares in the last quarter. 17.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ATAT has been the subject of a number of recent research reports. Citigroup reiterated a "buy" rating and issued a $38.00 target price (up from $36.50) on shares of Atour Lifestyle in a report on Friday, May 23rd. Wall Street Zen lowered Atour Lifestyle from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $36.63.

Atour Lifestyle Stock Performance

Shares of ATAT stock opened at $35.73 on Friday. Atour Lifestyle Holdings Limited Sponsored ADR has a fifty-two week low of $16.17 and a fifty-two week high of $37.46. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 28.36, a PEG ratio of 1.05 and a beta of 0.82. The stock's 50-day simple moving average is $34.24 and its 200-day simple moving average is $30.54.

Atour Lifestyle announced that its Board of Directors has approved a share buyback plan on Thursday, May 22nd that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

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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