Citigroup Inc. Boosts Stock Position in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT)

Citigroup Inc. increased its stake in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT) by 16.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 422,425 shares of the company’s stock after purchasing an additional 58,146 shares during the quarter. Citigroup Inc.’s holdings in Atour Lifestyle were worth $11,976,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. AdvisorShares Investments LLC bought a new position in Atour Lifestyle in the 4th quarter worth about $188,000. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Atour Lifestyle in the first quarter worth about $209,000. Pinnacle Associates Ltd. purchased a new position in Atour Lifestyle during the first quarter valued at approximately $213,000. Bank of New York Mellon Corp bought a new stake in Atour Lifestyle during the 1st quarter worth approximately $215,000. Finally, Deutsche Bank AG purchased a new stake in Atour Lifestyle in the 4th quarter worth approximately $235,000. 17.79% of the stock is currently owned by hedge funds and other institutional investors.

Atour Lifestyle Price Performance

Shares of Atour Lifestyle stock opened at $34.48 on Friday. The company has a 50 day simple moving average of $33.85 and a two-hundred day simple moving average of $30.21. The firm has a market cap of $4.76 billion, a PE ratio of 27.37, a PEG ratio of 1.03 and a beta of 0.82. Atour Lifestyle Holdings Limited Sponsored ADR has a 1 year low of $16.17 and a 1 year high of $37.46.

Atour Lifestyle announced that its board has authorized a share buyback plan on Thursday, May 22nd that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Atour Lifestyle Increases Dividend

The business also recently announced an annual dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were given a $0.42 dividend. This represents a yield of 130.0%. This is a boost from Atour Lifestyle’s previous annual dividend of $0.40. The ex-dividend date was Monday, June 2nd. Atour Lifestyle’s dividend payout ratio (DPR) is presently 30.95%.

Analysts Set New Price Targets

A number of research analysts have recently commented on ATAT shares. Citigroup restated a “buy” rating and set a $38.00 price target (up from $36.50) on shares of Atour Lifestyle in a research report on Friday, May 23rd. Wall Street Zen cut Atour Lifestyle from a “buy” rating to a “hold” rating in a research report on Saturday, July 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.63.

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.