Atour Lifestyle (NASDAQ:ATAT) Reaches New 12-Month High – Time to Buy?

Atour Lifestyle Holdings Limited (NASDAQ:ATAT) reached a new 52-week high during trading on Wednesday . The stock traded as high as $30.86 and last traded at $29.78, with a volume of 127539 shares trading hands. The stock had previously closed at $29.00.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group began coverage on Atour Lifestyle in a research note on Monday, December 9th. They set a “buy” rating and a $34.40 price target on the stock.

Atour Lifestyle Price Performance

The firm has a market capitalization of $4.06 billion, a P/E ratio of 25.60, a P/E/G ratio of 0.51 and a beta of 0.45. The stock’s 50 day moving average is $26.97 and its two-hundred day moving average is $24.20.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ATAT. FMR LLC grew its holdings in Atour Lifestyle by 352.7% during the third quarter. FMR LLC now owns 889,942 shares of the company’s stock valued at $23,085,000 after purchasing an additional 693,342 shares during the period. Wellington Management Group LLP acquired a new position in shares of Atour Lifestyle in the 3rd quarter valued at $1,251,000. XTX Topco Ltd increased its position in shares of Atour Lifestyle by 119.5% in the 3rd quarter. XTX Topco Ltd now owns 46,638 shares of the company’s stock valued at $1,210,000 after buying an additional 25,390 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Atour Lifestyle during the 3rd quarter worth $2,741,000. Finally, JPMorgan Chase & Co. lifted its holdings in Atour Lifestyle by 24.6% during the third quarter. JPMorgan Chase & Co. now owns 1,010,619 shares of the company’s stock worth $26,215,000 after acquiring an additional 199,330 shares in the last quarter. Institutional investors and hedge funds own 17.79% of the company’s stock.

Atour Lifestyle Company 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.