William Blair Investment Management LLC Makes New Investment in Atour Lifestyle Holdings Limited (NASDAQ:ATAT)

William Blair Investment Management LLC purchased a new position in Atour Lifestyle Holdings Limited (NASDAQ:ATAT) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 908,692 shares of the company’s stock, valued at approximately $24,433,000.

A number of other institutional investors have also bought and sold shares of ATAT. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Atour Lifestyle by 174.4% in 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 buying an additional 709,700 shares in the last quarter. FMR LLC increased its stake in Atour Lifestyle by 352.7% in the 3rd quarter. FMR LLC now owns 889,942 shares of the company’s stock worth $23,085,000 after buying an additional 693,342 shares in the last quarter. Jupiter Asset Management Ltd. increased 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 in the last quarter. JPMorgan Chase & Co. increased its stake in Atour Lifestyle by 24.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,010,619 shares of the company’s stock worth $26,215,000 after buying an additional 199,330 shares in the last quarter. Finally, State Street Corp purchased a new stake in Atour Lifestyle in the 3rd quarter worth $2,776,000. Hedge funds and other institutional investors own 17.79% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Atour Lifestyle Stock Down 1.2 %

Shares of Atour Lifestyle stock opened at $30.92 on Wednesday. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 0.59 and a beta of 0.37. Atour Lifestyle Holdings Limited has a twelve month low of $15.22 and a twelve month high of $33.32. The business has a 50-day moving average price of $28.52 and a 200-day moving average price of $26.56.

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.