Atour Lifestyle (NASDAQ:ATAT) Hits New 12-Month High – Should You Buy?

Atour Lifestyle Holdings Limited (NASDAQ:ATAT)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $32.20 and last traded at $32.43, with a volume of 29626 shares changing hands. The stock had previously closed at $30.80.

Wall Street Analyst Weigh In

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

Atour Lifestyle Price Performance

The stock’s fifty day simple moving average is $27.21 and its 200-day simple moving average is $24.59. The company has a market capitalization of $4.41 billion, a P/E ratio of 27.65, a PEG ratio of 0.51 and a beta of 0.45.

Institutional Investors Weigh In On Atour Lifestyle

A number of hedge funds have recently bought and sold shares of the company. OLP CAPITAL MANAGEMENT Ltd boosted its holdings in Atour Lifestyle by 17.1% during the fourth quarter. OLP CAPITAL MANAGEMENT Ltd now owns 7,202,395 shares of the company’s stock valued at $193,672,000 after acquiring an additional 1,052,822 shares during the period. First Beijing Investment Ltd raised its position in shares of Atour Lifestyle by 175.0% during the third quarter. First Beijing Investment Ltd now owns 5,639,562 shares of the company’s stock valued at $146,290,000 after buying an additional 3,588,469 shares during the last quarter. Bank of America Corp DE raised its position in shares of Atour Lifestyle by 8.3% during the fourth quarter. Bank of America Corp DE now owns 3,534,543 shares of the company’s stock valued at $95,044,000 after buying an additional 269,656 shares during the last quarter. M&G PLC raised its position in shares of Atour Lifestyle by 173.2% during 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 during the last quarter. Finally, Man Group plc raised its position in shares of Atour Lifestyle by 21.8% during the fourth quarter. Man Group plc now owns 2,051,797 shares of the company’s stock valued at $55,173,000 after buying an additional 366,872 shares during the last quarter. 17.79% of the stock is currently owned by institutional investors.

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.