Atour Lifestyle (NASDAQ:ATAT) Earns Buy Rating from Analysts at The Goldman Sachs Group

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

Atour Lifestyle Price Performance

NASDAQ:ATAT opened at $27.78 on Monday. The firm has a market capitalization of $3.82 billion, a P/E ratio of 23.95, a PEG ratio of 0.62 and a beta of 0.52. The company’s fifty day moving average price is $26.63 and its 200-day moving average price is $21.40. Atour Lifestyle has a 1-year low of $15.22 and a 1-year high of $29.90.

Hedge Funds Weigh In On Atour Lifestyle

Several institutional investors and hedge funds have recently modified their holdings of the stock. First Beijing Investment Ltd lifted its stake in shares of Atour Lifestyle by 175.0% in the 3rd quarter. First Beijing Investment Ltd now owns 5,639,562 shares of the company’s stock valued at $146,290,000 after purchasing an additional 3,588,469 shares during the period. M&G PLC increased its holdings in Atour Lifestyle by 173.2% in the third quarter. M&G PLC now owns 3,518,106 shares of the company’s stock valued at $91,471,000 after buying an additional 2,230,247 shares in the last quarter. M&G Plc acquired a new position in shares of Atour Lifestyle in the second quarter worth about $23,181,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Atour Lifestyle by 174.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,116,600 shares of the company’s stock worth $28,965,000 after acquiring an additional 709,700 shares in the last quarter. Finally, FMR LLC grew its position in shares of Atour Lifestyle by 352.7% during the 3rd quarter. FMR LLC now owns 889,942 shares of the company’s stock valued at $23,085,000 after acquiring an additional 693,342 shares during the period. Institutional investors and hedge funds own 17.79% of the company’s stock.

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.