Atour Lifestyle (NASDAQ:ATAT) Trading Up 5.6% – Here’s What Happened

Shares of Atour Lifestyle Holdings Limited (NASDAQ:ATAT) were up 5.6% during mid-day trading on Tuesday . The company traded as high as $28.99 and last traded at $29.47. Approximately 496,610 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 768,303 shares. The stock had previously closed at $27.90.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group initiated coverage on Atour Lifestyle in a research note on Monday, December 9th. They set a “buy” rating and a $34.40 price objective for the company.

Atour Lifestyle Stock Performance

The stock’s 50 day simple moving average is $26.91 and its 200 day simple moving average is $24.11. The firm has a market cap of $4.01 billion, a PE ratio of 25.10, a PEG ratio of 0.51 and a beta of 0.45.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of Atour Lifestyle by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 69,171 shares of the company’s stock worth $1,794,000 after purchasing an additional 863 shares in the last quarter. Loomis Sayles & Co. L P bought a new stake in Atour Lifestyle in the 3rd quarter worth approximately $34,000. American Century Companies Inc. boosted its stake in Atour Lifestyle by 3.8% in the fourth quarter. American Century Companies Inc. now owns 62,772 shares of the company’s stock worth $1,688,000 after buying an additional 2,321 shares in the last quarter. Lester Murray Antman dba SimplyRich grew its position in Atour Lifestyle by 11.9% during the fourth quarter. Lester Murray Antman dba SimplyRich now owns 23,297 shares of the company’s stock valued at $626,000 after acquiring an additional 2,469 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Atour Lifestyle during the third quarter worth approximately $143,000. Institutional investors own 17.79% of the company’s stock.

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.