Atour Lifestyle (NASDAQ:ATAT) Hits New 12-Month High – Should You Buy?

Atour Lifestyle Holdings Limited (NASDAQ:ATAT)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $32.20 and last traded at $32.43, with a volume of 29626 shares trading hands. The stock had previously closed at $30.80.

Analyst Ratings Changes

Separately, 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 target price for the company.

Atour Lifestyle Stock Up 4.0 %

The company has a 50-day moving average price of $27.21 and a 200-day moving average price of $24.59. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of 27.65, a P/E/G ratio of 0.51 and a beta of 0.45.

Institutional Investors Weigh In On Atour Lifestyle

A number of institutional investors have recently added to or reduced their stakes in the company. OLP CAPITAL MANAGEMENT Ltd lifted 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 worth $193,672,000 after purchasing an additional 1,052,822 shares during the period. First Beijing Investment Ltd increased its holdings in shares of 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 buying an additional 3,588,469 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Atour Lifestyle by 8.3% in the fourth quarter. Bank of America Corp DE now owns 3,534,543 shares of the company’s stock valued at $95,044,000 after buying an additional 269,656 shares in the last quarter. M&G PLC increased its holdings in shares of Atour Lifestyle by 173.2% in the third quarter. M&G PLC now owns 3,518,106 shares of the company’s stock valued at $91,471,000 after buying an additional 2,230,247 shares in the last quarter. Finally, Man Group plc increased its holdings in shares of Atour Lifestyle by 21.8% in the fourth quarter. Man Group plc now owns 2,051,797 shares of the company’s stock valued at $55,173,000 after buying an additional 366,872 shares in 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.