Matthews International Capital Management LLC Decreases Stock Position in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT)

Matthews International Capital Management LLC cut its position in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT) by 1.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 219,344 shares of the company’s stock after selling 3,474 shares during the quarter. Atour Lifestyle accounts for 1.3% of Matthews International Capital Management LLC’s portfolio, making the stock its 18th largest position. Matthews International Capital Management LLC’s holdings in Atour Lifestyle were worth $6,218,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of Atour Lifestyle by 430.2% in the fourth quarter. Wellington Management Group LLP now owns 255,727 shares of the company’s stock valued at $6,876,000 after purchasing an additional 207,499 shares during the period. Mackenzie Financial Corp purchased a new position in shares of Atour Lifestyle in the fourth quarter valued at $5,666,000. Public Employees Retirement System of Ohio boosted its stake in shares of Atour Lifestyle by 793.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 49,134 shares of the company’s stock valued at $1,321,000 after purchasing an additional 43,634 shares during the period. Sylebra Capital LLC boosted its stake in shares of Atour Lifestyle by 12.0% in the fourth quarter. Sylebra Capital LLC now owns 1,245,593 shares of the company’s stock valued at $33,494,000 after purchasing an additional 133,869 shares during the period. Finally, Voloridge Investment Management LLC boosted its stake in shares of Atour Lifestyle by 120.2% in the fourth quarter. Voloridge Investment Management LLC now owns 1,028,543 shares of the company’s stock valued at $27,658,000 after purchasing an additional 561,365 shares during the period. 17.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ATAT has been the topic of several recent analyst reports. 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 shares of Atour Lifestyle from $35.30 to $36.80 and gave the company a “buy” rating in a report on Friday, March 14th. Citigroup reaffirmed a “buy” rating and issued a $38.00 price target (up from $36.50) on shares of Atour Lifestyle in a report on Friday, May 23rd. Finally, Wall Street Zen cut shares of Atour Lifestyle from a “strong-buy” rating to a “hold” rating in a report on Friday, May 30th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Atour Lifestyle has a consensus rating of “Moderate Buy” and a consensus target price of $36.63.

Atour Lifestyle Price Performance

ATAT opened at $30.75 on Thursday. The stock has a market capitalization of $4.25 billion, a PE ratio of 24.40, a P/E/G ratio of 0.88 and a beta of 0.83. The firm’s fifty day moving average price is $28.18 and its 200 day moving average price is $28.05. Atour Lifestyle Holdings Limited Sponsored ADR has a 12-month low of $15.22 and a 12-month high of $34.23.

Atour Lifestyle (NASDAQ:ATAT) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. The firm had revenue of $285.58 million for the quarter, compared to analysts’ expectations of $275.49 million. Atour Lifestyle had a net margin of 16.39% and a return on equity of 43.91%. On average, equities research analysts forecast that Atour Lifestyle Holdings Limited Sponsored ADR will post 1.24 earnings per share for the current fiscal year.

Atour Lifestyle Increases Dividend

The firm also recently announced an annual dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.42 per share. This represents a dividend yield of 1.3%. This is a boost from Atour Lifestyle’s previous annual dividend of $0.40. The ex-dividend date of this dividend was Monday, June 2nd. Atour Lifestyle’s dividend payout ratio is 30.95%.

Atour Lifestyle announced that its Board of Directors has authorized a share buyback program on Thursday, May 22nd that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board 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.