AI Squared Management Ltd Buys 241,094 Shares of Atour Lifestyle Holdings Limited (NASDAQ:ATAT)

AI Squared Management Ltd grew its stake in Atour Lifestyle Holdings Limited (NASDAQ:ATAT - Free Report) by 180.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 374,630 shares of the company's stock after purchasing an additional 241,094 shares during the quarter. Atour Lifestyle comprises approximately 10.3% of AI Squared Management Ltd's holdings, making the stock its 3rd largest holding. AI Squared Management Ltd owned 0.27% of Atour Lifestyle worth $10,074,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ATAT. Loomis Sayles & Co. L P acquired a new position in Atour Lifestyle during the third quarter valued at approximately $34,000. Public Employees Retirement System of Ohio acquired a new stake in Atour Lifestyle in the third quarter worth $143,000. Cornerstone Investment Partners LLC bought a new position in shares of Atour Lifestyle during the fourth quarter worth $213,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Atour Lifestyle in the 3rd quarter valued at $430,000. Finally, Trivest Advisors Ltd bought a new stake in shares of Atour Lifestyle in the 4th quarter valued at $457,000. 17.79% of the stock is currently owned by institutional investors.

Atour Lifestyle Stock Performance

NASDAQ ATAT traded down $0.66 on Friday, reaching $28.45. The company had a trading volume of 1,098,036 shares, compared to its average volume of 1,129,582. The company's fifty day moving average is $29.18 and its 200-day moving average is $27.09. Atour Lifestyle Holdings Limited has a 1-year low of $15.22 and a 1-year high of $33.32. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of 24.53, a price-to-earnings-growth ratio of 0.59 and a beta of 0.37.

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Atour Lifestyle (NASDAQ:ATAT - Get Free Report) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.03. Atour Lifestyle had a return on equity of 48.26% and a net margin of 17.43%. The company had revenue of $285.58 million during the quarter, compared to analysts' expectations of $275.49 million. On average, research analysts forecast that Atour Lifestyle Holdings Limited will post 1.24 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. UBS Group set a $37.30 target price on Atour Lifestyle and gave the stock a "buy" rating in a report on Thursday, March 6th. Bank of America lifted their price objective on Atour Lifestyle from $35.30 to $36.80 and gave the company a "buy" rating in a report on Friday, March 14th. Finally, The Goldman Sachs Group began coverage on Atour Lifestyle in a research note on Monday, December 9th. They set a "buy" rating and a $34.40 target price for the company.

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.