Atour Lifestyle (NASDAQ:ATAT) Sees Large Volume Increase on Earnings Beat

Atour Lifestyle Holdings Limited (NASDAQ:ATAT) saw an uptick in trading volume on Tuesday after the company announced better than expected quarterly earnings. 999,831 shares traded hands during mid-day trading, a decline of 6% from the previous session’s volume of 1,067,490 shares.The stock last traded at $29.20 and had previously closed at $30.24.

The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. Atour Lifestyle had a net margin of 17.43% and a return on equity of 48.26%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. UBS Group set a $37.30 price target on Atour Lifestyle and gave the stock a “buy” rating in a research note on Thursday, March 6th. The Goldman Sachs Group initiated coverage on Atour Lifestyle in a research note on Monday, December 9th. They issued a “buy” rating and a $34.40 price target on the stock. Finally, Bank of America upped their price objective on shares of Atour Lifestyle from $35.30 to $36.80 and gave the company a “buy” rating in a research note on Friday, March 14th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new stake in Atour Lifestyle in the 4th quarter valued at $36,489,000. OLP CAPITAL MANAGEMENT Ltd grew its position in Atour Lifestyle by 17.1% in the fourth quarter. OLP CAPITAL MANAGEMENT Ltd now owns 7,202,395 shares of the company’s stock valued at $193,672,000 after acquiring an additional 1,052,822 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Atour Lifestyle during the fourth quarter valued at approximately $24,433,000. 3G Capital Partners LP lifted its position in shares of Atour Lifestyle by 263.6% during the fourth quarter. 3G Capital Partners LP now owns 1,000,000 shares of the company’s stock worth $26,890,000 after purchasing an additional 725,000 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Atour Lifestyle by 174.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,116,600 shares of the company’s stock valued at $28,965,000 after purchasing an additional 709,700 shares during the period. Hedge funds and other institutional investors own 17.79% of the company’s stock.

Atour Lifestyle Stock Performance

The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 0.59 and a beta of 0.37. The stock’s fifty day moving average is $28.91 and its two-hundred day moving average is $26.88.

About Atour Lifestyle

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.