Atour Lifestyle (NASDAQ:ATAT) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of Atour Lifestyle (NASDAQ:ATAT) in a report published on Monday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $34.40 target price on the stock.

Atour Lifestyle Price Performance

Shares of ATAT stock opened at $29.45 on Monday. The company has a market cap of $4.05 billion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 0.62 and a beta of 0.52. Atour Lifestyle has a 1 year low of $15.22 and a 1 year high of $29.90. The stock’s 50 day simple moving average is $26.60 and its two-hundred day simple moving average is $21.29.

Institutional Trading of Atour Lifestyle

Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC raised its stake in shares of Atour Lifestyle by 1,423.5% in the second quarter. SG Americas Securities LLC now owns 233,801 shares of the company’s stock valued at $4,290,000 after acquiring an additional 218,455 shares during the period. M&G Plc purchased a new stake in Atour Lifestyle in the 2nd quarter worth about $23,181,000. Serenity Capital Management PTE. LTD. bought a new stake in Atour Lifestyle in the second quarter worth about $5,046,000. Acadian Asset Management LLC purchased a new position in shares of Atour Lifestyle during the second quarter valued at approximately $7,940,000. Finally, Prudential PLC bought a new position in shares of Atour Lifestyle during the second quarter valued at approximately $13,161,000. 17.79% of the stock is currently owned by institutional investors.

About Atour Lifestyle

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.