Atour Lifestyle (NASDAQ:ATAT) Sets New 52-Week High – What’s Next?

Atour Lifestyle Holdings Limited (NASDAQ:ATAT) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $30.86 and last traded at $29.78, with a volume of 127539 shares changing hands. The stock had previously closed at $29.00.

Analyst Upgrades and Downgrades

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

Atour Lifestyle Stock Up 1.9 %

The stock has a market capitalization of $4.06 billion, a P/E ratio of 25.60, a P/E/G ratio of 0.51 and a beta of 0.45. The stock has a 50 day simple moving average of $26.97 and a two-hundred day simple moving average of $24.20.

Hedge Funds Weigh In On Atour Lifestyle

Institutional investors have recently added to or reduced their stakes in the company. First Beijing Investment Ltd lifted 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 valued at $146,290,000 after acquiring an additional 3,588,469 shares during the last quarter. M&G PLC raised its holdings in shares of Atour Lifestyle by 173.2% in the 3rd 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 period. Norges Bank acquired a new stake in Atour Lifestyle in the 4th quarter valued at about $36,489,000. William Blair Investment Management LLC bought a new position in Atour Lifestyle during the fourth quarter worth about $24,433,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in 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 last quarter. 17.79% of the stock is currently owned by institutional investors and hedge funds.

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.