Atour Lifestyle (NASDAQ:ATAT) Stock Price Up 3.3% – Time to Buy?

Atour Lifestyle Holdings Limited (NASDAQ:ATAT)’s share price was up 3.3% during mid-day trading on Tuesday . The stock traded as high as $28.00 and last traded at $27.86. Approximately 350,003 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 985,636 shares. The stock had previously closed at $26.97.

Analyst Ratings Changes

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

Atour Lifestyle Stock Up 5.2 %

The firm has a market cap of $3.90 billion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 0.65 and a beta of 0.52. The business has a 50 day simple moving average of $26.59 and a two-hundred day simple moving average of $21.63.

Hedge Funds Weigh In On Atour Lifestyle

A number of institutional investors have recently modified their holdings of ATAT. First Beijing Investment Ltd raised its stake in Atour Lifestyle by 175.0% in the third quarter. First Beijing Investment Ltd now owns 5,639,562 shares of the company’s stock worth $146,290,000 after buying an additional 3,588,469 shares in the last quarter. M&G PLC grew its stake in Atour Lifestyle by 173.2% in the third quarter. M&G PLC now owns 3,518,106 shares of the company’s stock valued at $91,471,000 after purchasing an additional 2,230,247 shares during the last quarter. Prudential PLC purchased a new position in shares of Atour Lifestyle in the second quarter worth $13,161,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Atour Lifestyle by 174.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,116,600 shares of the company’s stock worth $28,965,000 after buying an additional 709,700 shares during the period. Finally, FMR LLC increased its position in shares of Atour Lifestyle by 352.7% in the 3rd quarter. FMR LLC now owns 889,942 shares of the company’s stock valued at $23,085,000 after acquiring an additional 693,342 shares during the period. 17.79% of the stock is 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.