Atour Lifestyle (NASDAQ:ATAT) Shares Gap Up – Time to Buy?

Atour Lifestyle Holdings Limited (NASDAQ:ATAT) shares gapped up before the market opened on Thursday . The stock had previously closed at $30.99, but opened at $31.73. Atour Lifestyle shares last traded at $31.72, with a volume of 354,828 shares trading hands.

Analyst Upgrades and Downgrades

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

Atour Lifestyle Price Performance

The stock has a market capitalization of $4.14 billion, a price-to-earnings ratio of 25.96, a price-to-earnings-growth ratio of 0.59 and a beta of 0.37. The firm has a 50 day simple moving average of $27.90 and a 200-day simple moving average of $25.73.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Atour Lifestyle in the 4th quarter valued at about $36,489,000. OLP CAPITAL MANAGEMENT Ltd grew its position in shares of Atour Lifestyle by 17.1% during the 4th quarter. OLP CAPITAL MANAGEMENT Ltd now owns 7,202,395 shares of the company’s stock worth $193,672,000 after buying an additional 1,052,822 shares during the period. William Blair Investment Management LLC bought a new stake in shares of Atour Lifestyle in the 4th quarter valued at about $24,433,000. 3G Capital Partners LP boosted its stake in Atour Lifestyle by 263.6% during the 4th quarter. 3G Capital Partners LP now owns 1,000,000 shares of the company’s stock worth $26,890,000 after acquiring an additional 725,000 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in 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 in the last quarter. Institutional investors own 17.79% of the company’s 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.