Atour Lifestyle (NASDAQ:ATAT) Stock Price Down 3% - Here's Why

Atour Lifestyle Holdings Limited (NASDAQ:ATAT - Get Free Report) shares traded down 3% during mid-day trading on Wednesday . The stock traded as low as $22.58 and last traded at $23.29. 1,840,298 shares changed hands during trading, an increase of 61% from the average session volume of 1,146,537 shares. The stock had previously closed at $24.02.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. UBS Group set a $37.30 price target on shares of Atour Lifestyle and gave the company a "buy" rating in a report on Thursday, March 6th. Bank of America upped their price target on Atour Lifestyle from $35.30 to $36.80 and gave the stock a "buy" rating in a research note on Friday, March 14th.

Atour Lifestyle Stock Performance

The firm has a market cap of $3.28 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 0.59 and a beta of 0.51. The stock has a 50-day simple moving average of $28.82 and a two-hundred day simple moving average of $27.45.

Atour Lifestyle (NASDAQ:ATAT - Get Free Report) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.03. The company had revenue of $285.58 million during the quarter, compared to analysts' expectations of $275.49 million. Atour Lifestyle had a return on equity of 48.26% and a net margin of 17.43%. As a group, sell-side analysts anticipate that Atour Lifestyle Holdings Limited will post 1.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Atour Lifestyle

Hedge funds and other institutional investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Atour Lifestyle during the 3rd quarter valued at $2,741,000. State Street Corp purchased a new stake in shares of Atour Lifestyle during the 3rd quarter valued at about $2,776,000. Wellington Management Group LLP purchased a new stake in Atour Lifestyle during the third quarter valued at approximately $1,251,000. Y Intercept Hong Kong Ltd purchased a new stake in Atour Lifestyle during the 3rd quarter valued at $430,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Atour Lifestyle in the 3rd quarter worth about $143,000. 17.79% of the stock is currently owned by hedge funds and other institutional investors.

About Atour Lifestyle

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.