Prudential Financial Inc. Makes New $1.72 Million Investment in Atour Lifestyle Holdings Limited (NASDAQ:ATAT)

Prudential Financial Inc. acquired a new stake in Atour Lifestyle Holdings Limited (NASDAQ:ATAT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 63,900 shares of the company’s stock, valued at approximately $1,718,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in Atour Lifestyle by 24.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,010,619 shares of the company’s stock valued at $26,215,000 after acquiring an additional 199,330 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Atour Lifestyle in the fourth quarter valued at $24,433,000. FMR LLC lifted its position in Atour Lifestyle by 352.7% during the third quarter. FMR LLC now owns 889,942 shares of the company’s stock worth $23,085,000 after buying an additional 693,342 shares during the period. Jupiter Asset Management Ltd. boosted its stake in Atour Lifestyle by 135.2% in the 4th quarter. Jupiter Asset Management Ltd. now owns 581,300 shares of the company’s stock worth $15,631,000 after buying an additional 334,200 shares during the last quarter. Finally, Sei Investments Co. purchased a new stake in Atour Lifestyle in the 4th quarter valued at about $4,325,000. Hedge funds and other institutional investors own 17.79% of the company’s stock.

Atour Lifestyle Stock Performance

NASDAQ ATAT opened at $26.15 on Friday. Atour Lifestyle Holdings Limited has a one year low of $15.22 and a one year high of $33.32. The company’s 50 day moving average price is $29.36 and its 200 day moving average price is $27.37. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 0.59 and a beta of 0.51.

Atour Lifestyle (NASDAQ:ATAT) last posted its earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. Atour Lifestyle had a net margin of 17.43% and a return on equity of 48.26%. The business had revenue of $285.58 million for the quarter, compared to analyst estimates of $275.49 million. Sell-side analysts forecast that Atour Lifestyle Holdings Limited will post 1.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group began coverage on shares of Atour Lifestyle in a report on Monday, December 9th. They set a “buy” rating and a $34.40 price objective on the stock. UBS Group set a $37.30 price target on shares of Atour Lifestyle and gave the stock a “buy” rating in a research note on Thursday, March 6th. Finally, Bank of America boosted their price objective on shares of Atour Lifestyle from $35.30 to $36.80 and gave the company a “buy” rating in a research note on Friday, March 14th.

Atour Lifestyle Profile

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.