Mirae Asset Global Investments Co. Ltd. Purchases 2,504,461 Shares of Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT)

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT) by 3,189.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,582,975 shares of the company’s stock after purchasing an additional 2,504,461 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Atour Lifestyle were worth $73,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of ATAT. New York State Common Retirement Fund purchased a new position in Atour Lifestyle in the 4th quarter worth approximately $1,119,000. Cornerstone Investment Partners LLC purchased a new position in Atour Lifestyle in the 4th quarter worth approximately $213,000. Victory Capital Management Inc. purchased a new position in Atour Lifestyle in the 4th quarter worth approximately $750,000. HighTower Advisors LLC purchased a new position in Atour Lifestyle in the 4th quarter worth approximately $512,000. Finally, Jupiter Asset Management Ltd. grew its stake in Atour Lifestyle by 135.2% in the 4th quarter. Jupiter Asset Management Ltd. now owns 581,300 shares of the company’s stock worth $15,631,000 after buying an additional 334,200 shares in the last quarter. Hedge funds and other institutional investors own 17.79% of the company’s stock.

Atour Lifestyle Stock Performance

Shares of ATAT opened at $32.75 on Friday. The firm has a market cap of $4.53 billion, a price-to-earnings ratio of 25.99, a PEG ratio of 0.93 and a beta of 0.83. Atour Lifestyle Holdings Limited Sponsored ADR has a fifty-two week low of $15.22 and a fifty-two week high of $34.23. The firm has a 50 day moving average price of $29.34 and a 200-day moving average price of $28.29.

Atour Lifestyle (NASDAQ:ATAT) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $285.58 million during the quarter, compared to analyst estimates of $275.49 million. Atour Lifestyle had a net margin of 16.39% and a return on equity of 43.91%. As a group, equities research analysts predict that Atour Lifestyle Holdings Limited Sponsored ADR will post 1.24 earnings per share for the current year.

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

Atour Lifestyle Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ATAT shares. Wall Street Zen raised shares of Atour Lifestyle from a “hold” rating to a “buy” rating in a research note on Friday. Citigroup reissued a “buy” rating and issued a $38.00 price target (up previously from $36.50) on shares of Atour Lifestyle in a research note on Friday, May 23rd. Bank of America boosted their price target 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. Finally, UBS Group set a $37.30 price objective on shares of Atour Lifestyle and gave the stock a “buy” rating in a report on Thursday, March 6th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average 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.