Norges Bank Makes New Investment in Atour Lifestyle Holdings Limited (NASDAQ:ATAT)

Norges Bank purchased a new position in shares of Atour Lifestyle Holdings Limited (NASDAQ:ATAT) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,356,968 shares of the company’s stock, valued at approximately $36,489,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Public Employees Retirement System of Ohio acquired a new position in shares of Atour Lifestyle during the 3rd quarter valued at about $143,000. Cornerstone Investment Partners LLC acquired a new position in Atour Lifestyle during the fourth quarter valued at approximately $213,000. Y Intercept Hong Kong Ltd bought a new position in shares of Atour Lifestyle in the third quarter valued at approximately $430,000. Trivest Advisors Ltd acquired a new stake in shares of Atour Lifestyle in the fourth quarter worth $457,000. Finally, HighTower Advisors LLC bought a new stake in shares of Atour Lifestyle during the 4th quarter worth $512,000. Institutional investors own 17.79% of the company’s stock.

Atour Lifestyle Stock Down 8.4 %

ATAT stock opened at $26.15 on Friday. The business’s 50-day simple moving average is $29.36 and its 200 day simple moving average is $27.37. The company has a market cap of $3.60 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 0.59 and a beta of 0.51. Atour Lifestyle Holdings Limited has a twelve month low of $15.22 and a twelve month high of $33.32.

Atour Lifestyle (NASDAQ:ATAT) last issued its earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. Atour Lifestyle had a net margin of 17.43% and a return on equity of 48.26%. The business had revenue of $285.58 million for the quarter, compared to analyst estimates of $275.49 million. On average, equities research analysts anticipate that Atour Lifestyle Holdings Limited will post 1.24 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Bank of America boosted their target price 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. UBS Group set a $37.30 target price on Atour Lifestyle and gave the company a “buy” rating in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group started coverage on Atour Lifestyle in a research report on Monday, December 9th. They issued a “buy” rating and a $34.40 price target on the stock.

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.