Atour Lifestyle (NASDAQ:ATAT) Stock Falls 4% - Here's What Happened

Key Points

• Atour Lifestyle shares fell 4% to approximately $31.45, with mid-day trading volume down 94% from its average.
• Analyst sentiment remains positive overall: eight analysts rate the stock a Buy and one rates it Hold, resulting in a “Moderate Buy” consensus and an average price target of $46.62.
• The company recently exceeded quarterly expectations, reporting $0.59 in EPS versus $0.57 expected and revenue of $513.74 million versus the $484.56 million consensus estimate.

Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT - Get Free Report) was down 4% on Wednesday. The stock traded as low as $31.36 and last traded at $31.45. Approximately 63,993 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 1,047,901 shares. The stock had previously closed at $32.75.

Analyst Upgrades and Downgrades

ATAT has been the topic of several recent analyst reports. HSBC initiated coverage on shares of Atour Lifestyle in a research report on Wednesday, October 7th. They issued a "buy" rating and a $39.70 price objective for the company. Weiss Ratings upgraded shares of Atour Lifestyle from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Zacks Research cut shares of Atour Lifestyle from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 14th. Finally, Wall Street Zen upgraded shares of Atour Lifestyle from a "hold" rating to a "buy" rating in a research note on Sunday, September 13th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Atour Lifestyle has an average rating of "Moderate Buy" and an average target price of $46.62.

Atour Lifestyle Trading Down 4.6%

The business's 50-day simple moving average is $33.26 and its 200-day simple moving average is $35.20. The company has a market capitalization of $4.30 billion, a PE ratio of 15.39 and a beta of 0.66.

Atour Lifestyle (NASDAQ:ATAT - Get Free Report) last issued its earnings results on Thursday, August 20th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. The business had revenue of $513.74 million for the quarter, compared to analysts' expectations of $484.56 million. Sell-side analysts forecast that Atour Lifestyle Holdings Limited Sponsored ADR will post 2.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Atour Lifestyle

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. acquired a new stake in shares of Atour Lifestyle in the fourth quarter worth approximately $26,000. Fortitude Family Office LLC acquired a new position in Atour Lifestyle during the 3rd quarter worth about $26,000. Hollencrest Capital Management purchased a new position in shares of Atour Lifestyle in the first quarter valued at approximately $46,000. Farther Finance Advisors LLC grew its stake in shares of Atour Lifestyle by 1,309.4% in the third quarter. Farther Finance Advisors LLC now owns 1,804 shares of the company's stock worth $59,000 after acquiring an additional 1,676 shares in the last quarter. Finally, Nykredit A S purchased a new stake in Atour Lifestyle during the 2nd quarter worth about $112,000. 17.79% of the stock is owned by hedge funds and other institutional investors.

About Atour Lifestyle

Atour Lifestyle Holdings Limited NASDAQ: ATAT is a China-based hospitality and lifestyle company that operates a network of hotel brands and related businesses. Founded in 2013 and headquartered in Shanghai, the company focuses primarily on midscale and upscale hotels in China, serving business and leisure travelers through a combination of directly operated, franchised and managed properties.

Atour's portfolio includes its flagship Atour brand as well as other hotel concepts designed for different customer segments and travel occasions, including Atour S, Atour X and Light.

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