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

Shares of Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT) dropped 4% on Wednesday. The company traded as low as $31.36 and last traded at $31.45. 63,993 shares changed hands 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 Analyst Weigh In

A number of brokerages recently issued reports on ATAT. Weiss Ratings upgraded shares of Atour Lifestyle from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. HSBC began coverage on shares of Atour Lifestyle in a research report on Wednesday, October 7th. They issued a “buy” rating and a $39.70 price objective on the stock. Wall Street Zen upgraded shares of Atour Lifestyle from a “hold” rating to a “buy” rating in a report on Sunday, September 13th. Finally, Zacks Research cut shares of Atour Lifestyle from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $46.62.

Atour Lifestyle Price Performance

The firm has a market cap of $4.30 billion, a price-to-earnings ratio of 15.39 and a beta of 0.66. The stock has a 50-day moving average price of $33.26 and a 200 day moving average price of $35.20.

Atour Lifestyle (NASDAQ:ATAT) last posted its quarterly earnings data on Thursday, August 20th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. The firm had revenue of $513.74 million during the quarter, compared to analyst estimates of $484.56 million. As a group, equities research analysts predict that Atour Lifestyle Holdings Limited Sponsored ADR will post 2.13 earnings per share for the current year.

Institutional Investors Weigh In On Atour Lifestyle

Hedge funds have recently modified their holdings of the stock. Asset Management One Co. Ltd. lifted its stake in shares of Atour Lifestyle by 567.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 52,777 shares of the company’s stock worth $1,722,000 after acquiring an additional 44,864 shares during the period. Robeco Institutional Asset Management B.V. grew its position in shares of Atour Lifestyle by 341.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 35,963 shares of the company’s stock valued at $1,173,000 after purchasing an additional 27,825 shares during the last quarter. Vontobel Holding Ltd. increased its position in Atour Lifestyle by 2.8% during the third quarter. Vontobel Holding Ltd. now owns 233,286 shares of the company’s stock worth $7,610,000 after buying an additional 6,269 shares in the last quarter. TD Waterhouse Canada Inc. lifted its holdings in Atour Lifestyle by 3.4% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 20,554 shares of the company’s stock valued at $663,000 after purchasing an additional 672 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in Atour Lifestyle during the third quarter worth approximately $26,000. 17.79% of the stock is owned by institutional investors and hedge funds.

Atour Lifestyle Company Profile

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.