AI Squared Management Ltd Acquires 241,094 Shares of Atour Lifestyle Holdings Limited (NASDAQ:ATAT)

AI Squared Management Ltd boosted its holdings in shares of Atour Lifestyle Holdings Limited (NASDAQ:ATAT) by 180.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 374,630 shares of the company’s stock after purchasing an additional 241,094 shares during the period. Atour Lifestyle makes up approximately 10.3% of AI Squared Management Ltd’s holdings, making the stock its 3rd biggest position. AI Squared Management Ltd owned about 0.27% of Atour Lifestyle worth $10,074,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P purchased a new position in shares of Atour Lifestyle in the third quarter worth approximately $34,000. Public Employees Retirement System of Ohio acquired a new position in Atour Lifestyle in the 3rd quarter worth approximately $143,000. Cornerstone Investment Partners LLC purchased a new position in Atour Lifestyle during the 4th quarter worth approximately $213,000. Y Intercept Hong Kong Ltd acquired a new stake in Atour Lifestyle during the 3rd quarter valued at $430,000. Finally, Trivest Advisors Ltd purchased a new stake in shares of Atour Lifestyle in the fourth quarter valued at $457,000. 17.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ATAT has been the subject of several research analyst reports. Bank of America increased their price objective on Atour Lifestyle from $35.30 to $36.80 and gave the stock a “buy” rating in a research note on Friday, March 14th. The Goldman Sachs Group started coverage on shares of Atour Lifestyle in a research report on Monday, December 9th. They set a “buy” rating and a $34.40 price objective on the stock. Finally, UBS Group set a $37.30 target price on shares of Atour Lifestyle and gave the stock a “buy” rating in a research report on Thursday, March 6th.

Atour Lifestyle Price Performance

ATAT opened at $30.24 on Tuesday. The company has a market capitalization of $4.16 billion, a PE ratio of 26.07, a price-to-earnings-growth ratio of 0.59 and a beta of 0.37. Atour Lifestyle Holdings Limited has a fifty-two week low of $15.22 and a fifty-two week high of $33.32. The business has a 50-day moving average of $28.91 and a 200-day moving average of $26.88.

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.