Atour Lifestyle (NASDAQ:ATAT) Shares Down 4% – Here’s Why

Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT) shares dropped 4% during trading on Wednesday. The stock traded as low as $31.36 and last traded at $31.45. 63,993 shares were traded during trading, a decline of 94% from the average session volume of 1,047,901 shares. The stock had previously closed at $32.75.

Wall Street Analysts Forecast Growth

ATAT has been the subject of several analyst reports. Zacks Research cut Atour Lifestyle from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Wall Street Zen upgraded shares of Atour Lifestyle from a “hold” rating to a “buy” rating in a research report on Sunday, September 13th. Weiss Ratings raised Atour Lifestyle from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Finally, HSBC assumed coverage on Atour Lifestyle in a research report on Wednesday, October 7th. They set a “buy” rating and a $39.70 price objective for the company. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $46.62.

Atour Lifestyle Stock Up 7.8%

The company has a market cap of $4.49 billion, a P/E ratio of 16.09, a PEG ratio of 0.85 and a beta of 0.66. The firm’s 50 day moving average is $33.08 and its two-hundred day moving average is $35.10.

Atour Lifestyle (NASDAQ:ATAT) last issued its quarterly earnings data on Thursday, August 20th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Atour Lifestyle had a return on equity of 55.00% and a net margin of 16.75%. The company had revenue of $513.74 million during the quarter, compared to the consensus estimate of $484.56 million. As a group, research analysts forecast that Atour Lifestyle Holdings Limited Sponsored ADR will post 2.16 EPS for the current fiscal year.

Institutional Trading of Atour Lifestyle

A number of large investors have recently bought and sold shares of ATAT. Rockefeller Capital Management L.P. purchased a new stake in shares of Atour Lifestyle during the fourth quarter valued at approximately $26,000. Fortitude Family Office LLC bought a new stake in Atour Lifestyle during the third quarter worth $26,000. Hollencrest Capital Management bought a new stake in Atour Lifestyle during the first quarter worth $46,000. Farther Finance Advisors LLC boosted its position in Atour Lifestyle by 1,309.4% in the third quarter. Farther Finance Advisors LLC now owns 1,804 shares of the company’s stock worth $59,000 after purchasing an additional 1,676 shares during the last quarter. Finally, Nykredit A S purchased a new position in Atour Lifestyle in the second quarter worth $112,000. 17.79% of the stock is currently owned by institutional investors and hedge funds.

About Atour Lifestyle

Atour Lifestyle Holdings Limited (NASDAQ: ATAT) is a China-based hospitality and lifestyle company that operates a network of hotel brands and related businesses. Founded in 2013 and headquartered in Shanghai, the company focuses primarily on midscale and upscale hotels in China, serving business and leisure travelers through a combination of directly operated, franchised and managed properties.

Atour’s portfolio includes its flagship Atour brand as well as other hotel concepts designed for different customer segments and travel occasions, including Atour S, Atour X and Light.