AI Squared Management Ltd acquires a new position in Atour Lifestyle Holdings Limited (NASDAQ:ATAT)

AI Squared Management Ltd recently acquired a new stake in Atour Lifestyle Holdings Limited (NASDAQ:ATAT) during the fourth quarter, according to its latest filing with the SEC. The fund purchased 171,658 shares of the company’s stock, valued at approximately $2,980,000. This acquisition accounts for approximately 3.8% of AI Squared Management Ltd’s investment portfolio, making it the 8th largest holding in their portfolio. As of the most recent SEC filing, AI Squared Management Ltd owned 0.12% of Atour Lifestyle.

In addition to AI Squared Management Ltd, several other institutional investors have also increased or decreased their stakes in Atour Lifestyle. Sylebra Capital LLC purchased a new stake in the company in the third quarter, valued at approximately $22,073,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Atour Lifestyle during the fourth quarter, valued at about $13,685,000. Mirae Asset Global Investments Co. Ltd. also purchased a new position in the company during the same quarter, valued at about $8,045,000. Burgundy Asset Management Ltd. increased its position in Atour Lifestyle by 22.0% during the third quarter, now owning 376,603 shares of the company’s stock valued at $7,099,000. Finally, Schroder Investment Management Group bought a new position in Atour Lifestyle during the third quarter, valued at approximately $6,925,000. Overall, hedge funds and other institutional investors now own 17.79% of the company’s stock.

Wall Street analysts have recently weighed in on Atour Lifestyle, with Macquarie giving the stock an “outperform” rating and a target price of $26.00. Bank of America also maintained a “buy” rating on the stock, with a price target of $23.70. The stock has been performing well, trading up $0.11 during mid-day trading on Thursday, reaching $18.41. Atour Lifestyle has a market capitalization of $2.53 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 0.51, and a beta of 0.59. The company’s one-year low is $14.80, and its one-year high is $23.00.

In terms of financial performance, Atour Lifestyle reported $0.21 EPS for the quarter ending on March 28th, beating analysts’ consensus estimates of $0.19 by $0.02. The company had a return on equity of 42.81% and a net margin of 15.66%. Revenue for the quarter was $212.01 million, surpassing analyst estimates of $177.28 million. Analysts anticipate that Atour Lifestyle Holdings Limited will post 1.04 earnings per share for the current fiscal year.

Atour Lifestyle Holdings Limited, through its subsidiaries, provides lifestyle brands around hotel offerings in the People’s Republic of China. The company operates a series of themed hotels catering to various lifestyles across different age groups with varied interests, including music hotels, basketball hotels, and literary hotels.

Overall, Atour Lifestyle seems to be attracting significant interest from institutional investors and analysts alike, with positive ratings and forecasts for growth. Investors will be keeping a close eye on the company’s performance in the coming months.