Twinbeech Capital LP Makes New Investment in Atour Lifestyle Holdings Limited (NASDAQ:ATAT)

Twinbeech Capital LP acquired a new position in shares of Atour Lifestyle Holdings Limited (NASDAQ:ATAT) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 19,594 shares of the company’s stock, valued at approximately $527,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. OLP CAPITAL MANAGEMENT Ltd lifted its position in shares of Atour Lifestyle by 17.1% during the fourth quarter. OLP CAPITAL MANAGEMENT Ltd now owns 7,202,395 shares of the company’s stock worth $193,672,000 after purchasing an additional 1,052,822 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Atour Lifestyle by 8.3% during the fourth quarter. Bank of America Corp DE now owns 3,534,543 shares of the company’s stock worth $95,044,000 after purchasing an additional 269,656 shares during the last quarter. Man Group plc lifted its position in shares of Atour Lifestyle by 21.8% during the fourth quarter. Man Group plc now owns 2,051,797 shares of the company’s stock worth $55,173,000 after purchasing an additional 366,872 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Atour Lifestyle by 39.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,413,593 shares of the company’s stock worth $38,012,000 after purchasing an additional 402,974 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Atour Lifestyle during the fourth quarter worth about $36,489,000. 17.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on ATAT shares. Bank of America increased their price target on shares of Atour Lifestyle from $35.30 to $36.80 and gave the stock a “buy” rating in a research report on Friday, March 14th. Wall Street Zen raised shares of Atour Lifestyle from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, UBS Group set a $37.30 price target on shares of Atour Lifestyle and gave the stock a “buy” rating in a research report on Thursday, March 6th.

Atour Lifestyle Stock Up 8.9%

ATAT opened at $32.86 on Friday. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of 28.33, a price-to-earnings-growth ratio of 0.59 and a beta of 0.59. Atour Lifestyle Holdings Limited has a fifty-two week low of $15.22 and a fifty-two week high of $34.23. The company’s 50-day moving average price is $26.80 and its 200 day moving average price is $27.33.

Atour Lifestyle (NASDAQ:ATAT) last released 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. The firm had revenue of $285.58 million for the quarter, compared to analyst estimates of $275.49 million. Atour Lifestyle had a net margin of 17.43% and a return on equity of 48.26%. Research analysts anticipate that Atour Lifestyle Holdings Limited will post 1.24 earnings per share for the current year.

Atour Lifestyle announced that its Board of Directors has approved a stock repurchase plan on Thursday, May 22nd that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.