New York State Common Retirement Fund Makes Significant Investment in Atour Lifestyle Holdings Limited
New York State Common Retirement Fund recently made a notable investment in Atour Lifestyle Holdings Limited (NASDAQ:ATAT), acquiring 2,424 shares of the company’s stock during the fourth quarter. The stake is valued at approximately $42,000, according to the latest Form 13F filing with the Securities and Exchange Commission (SEC).
This move by the institutional investor comes as several other institutional investors have also shown interest in Atour Lifestyle. DekaBank Deutsche Girozentrale purchased a new stake in the company in the third quarter, while Advisors Preferred LLC and China Universal Asset Management Co. Ltd. acquired stakes in the fourth quarter. Additionally, Barclays PLC and UBS Group AG increased their holdings in Atour Lifestyle during the third quarter.
Analyst Upgrades and Downgrades
Research analysts have been closely monitoring Atour Lifestyle, with Macquarie recently initiating coverage on the stock with an “outperform” rating and a $26.00 price target. Bank of America also weighed in on the company, reducing their price target from $25.00 to $23.70 while maintaining a “buy” rating.
Atour Lifestyle Trading Performance
Shares of Atour Lifestyle opened at $18.58 on Monday, with a twelve-month low of $14.80 and a high of $23.00. The company’s 50-day moving average price is $18.47, and its 200-day moving average price is $18.17. Atour Lifestyle has a market capitalization of $2.56 billion, a PE ratio of 25.81, and a beta of 0.59.
In its most recent quarterly earnings report, Atour Lifestyle exceeded analysts’ expectations, reporting $0.21 earnings per share (EPS) for the quarter. The company also showcased a return on equity of 42.81% and a net margin of 15.66%. With revenue of $212.01 million for the quarter, Atour Lifestyle is on track to meet analyst estimates for the current fiscal year.
Atour Lifestyle Company Profile
Atour Lifestyle Holdings Limited operates lifestyle brands centered around hotel offerings in China. The company’s themed hotels cater to various lifestyles, including music, basketball, and literary themes, appealing to different age groups with diverse interests.
Overall, Atour Lifestyle continues to attract investor interest and analyst attention, with its innovative approach to lifestyle branding and strong financial performance. As the company navigates the evolving market landscape, investors will be closely watching its growth trajectory and strategic initiatives in the coming months.