Atour Lifestyle (NASDAQ:ATAT) Sees Unusually-High Trading Volume Following Earnings Beat

Shares of Atour Lifestyle Holdings Limited (NASDAQ:ATAT) saw an uptick in trading volume on Tuesday following a better than expected earnings announcement. 999,831 shares traded hands during trading, a decline of 6% from the previous session’s volume of 1,067,490 shares.The stock last traded at $29.20 and had previously closed at $30.24.

The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. Atour Lifestyle had a return on equity of 48.26% and a net margin of 17.43%.

Wall Street Analyst Weigh In

ATAT has been the subject of a number of research reports. The Goldman Sachs Group assumed coverage on Atour Lifestyle in a research note on Monday, December 9th. They issued a “buy” rating and a $34.40 price objective for the company. UBS Group set a $37.30 target price on Atour Lifestyle and gave the company a “buy” rating in a research report on Thursday, March 6th. Finally, Bank of America raised 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.

Institutional Trading of Atour Lifestyle

A number of institutional investors have recently bought and sold shares of the business. FMR LLC lifted its stake 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 purchasing an additional 693,342 shares during the last quarter. Wellington Management Group LLP acquired a new position in shares of Atour Lifestyle in the 3rd quarter valued at $1,251,000. Sanctuary Advisors LLC purchased a new position in shares of Atour Lifestyle in the 4th quarter valued at $1,344,000. XTX Topco Ltd raised its stake in Atour Lifestyle by 119.5% during the 3rd quarter. XTX Topco Ltd now owns 46,638 shares of the company’s stock worth $1,210,000 after acquiring an additional 25,390 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Atour Lifestyle in the third quarter valued at $2,741,000. 17.79% of the stock is owned by hedge funds and other institutional investors.

Atour Lifestyle Stock Down 2.8 %

The firm has a fifty day simple moving average of $28.91 and a 200-day simple moving average of $26.88. The company has a market cap of $4.05 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 0.59 and a beta of 0.37.

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.