Atour Lifestyle (NASDAQ:ATAT) Sees Strong Trading Volume on Earnings Beat

Atour Lifestyle Holdings Limited (NASDAQ:ATAT) shares saw an uptick in trading volume on Tuesday after the company announced better than expected quarterly earnings. 999,831 shares changed hands during trading, a decline of 6% from the previous session’s volume of 1,067,490 shares.The stock last traded at $29.20 and had previously closed at $30.24.

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 the consensus estimate of $275.49 million. Atour Lifestyle had a net margin of 17.43% and a return on equity of 48.26%.

Wall Street Analyst Weigh In

ATAT has been the topic of a number of analyst reports. Bank of America lifted their target price on shares of Atour Lifestyle from $35.30 to $36.80 and gave the stock a “buy” rating in a research note on Friday, March 14th. UBS Group set a $37.30 price target on Atour Lifestyle and gave the stock a “buy” rating in a research report on Thursday, March 6th. Finally, The Goldman Sachs Group assumed coverage on Atour Lifestyle in a report on Monday, December 9th. They issued a “buy” rating and a $34.40 price objective on the stock.

Institutional Trading of Atour Lifestyle

A number of large investors have recently modified their holdings of ATAT. Norges Bank purchased a new position in Atour Lifestyle in the fourth quarter valued at $36,489,000. OLP CAPITAL MANAGEMENT Ltd lifted its stake 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 acquiring an additional 1,052,822 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Atour Lifestyle during the 4th quarter worth approximately $24,433,000. 3G Capital Partners LP increased its position in shares of Atour Lifestyle by 263.6% in the 4th quarter. 3G Capital Partners LP now owns 1,000,000 shares of the company’s stock valued at $26,890,000 after purchasing an additional 725,000 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Atour Lifestyle by 174.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,116,600 shares of the company’s stock valued at $28,965,000 after purchasing an additional 709,700 shares in the last quarter. Hedge funds and other institutional investors own 17.79% of the company’s stock.

Atour Lifestyle Stock Performance

The firm has a market capitalization of $3.93 billion, a PE ratio of 24.63, a PEG ratio of 0.59 and a beta of 0.37. The company’s 50-day moving average price is $29.05 and its 200-day moving average price is $26.96.

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.