Atour Lifestyle (NASDAQ:ATAT) Reaches New 12-Month High – Here’s Why

Atour Lifestyle Holdings Limited (NASDAQ:ATAT)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $32.20 and last traded at $32.43, with a volume of 29626 shares. The stock had previously closed at $30.80.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group began coverage on shares of Atour Lifestyle in a research note on Monday, December 9th. They issued a “buy” rating and a $34.40 price target on the stock.

Atour Lifestyle Stock Down 0.8 %

The company has a market capitalization of $4.39 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 0.61 and a beta of 0.45. The firm has a 50-day moving average of $27.39 and a two-hundred day moving average of $24.75.

Institutional Trading of Atour Lifestyle

Several institutional investors and hedge funds have recently bought and sold shares of ATAT. OLP CAPITAL MANAGEMENT Ltd increased its position in shares of Atour Lifestyle by 17.1% during the fourth quarter. OLP CAPITAL MANAGEMENT Ltd now owns 7,202,395 shares of the company’s stock valued at $193,672,000 after acquiring an additional 1,052,822 shares during the last quarter. First Beijing Investment Ltd increased its holdings in Atour Lifestyle by 175.0% in the 3rd quarter. First Beijing Investment Ltd now owns 5,639,562 shares of the company’s stock valued at $146,290,000 after purchasing an additional 3,588,469 shares during the last quarter. Bank of America Corp DE raised its position in Atour Lifestyle by 8.3% in the fourth quarter. Bank of America Corp DE now owns 3,534,543 shares of the company’s stock valued at $95,044,000 after purchasing an additional 269,656 shares during the period. M&G PLC lifted its stake in Atour Lifestyle by 173.2% during the third quarter. M&G PLC now owns 3,518,106 shares of the company’s stock worth $91,471,000 after purchasing an additional 2,230,247 shares in the last quarter. Finally, Man Group plc boosted its position in shares of Atour Lifestyle by 21.8% during the fourth quarter. Man Group plc now owns 2,051,797 shares of the company’s stock worth $55,173,000 after buying an additional 366,872 shares during the period. 17.79% of the stock is currently owned by hedge funds and other institutional investors.

Atour Lifestyle Company 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.