Atour Lifestyle (NASDAQ:ATAT) Trading Down 4.7% – Here’s What Happened

Atour Lifestyle Holdings Limited (NASDAQ:ATAT)’s stock price traded down 4.7% during trading on Wednesday . The stock traded as low as $26.28 and last traded at $26.31. 363,697 shares changed hands during trading, a decline of 51% from the average session volume of 742,156 shares. The stock had previously closed at $27.60.

Analyst Ratings Changes

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

Atour Lifestyle Trading Down 6.4 %

The business has a 50 day simple moving average of $26.74 and a two-hundred day simple moving average of $23.83. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 0.52 and a beta of 0.45.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in Atour Lifestyle by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 69,171 shares of the company’s stock valued at $1,794,000 after purchasing an additional 863 shares during the period. Loomis Sayles & Co. L P acquired a new position in Atour Lifestyle during the 3rd quarter valued at approximately $34,000. Lester Murray Antman dba SimplyRich boosted its position in Atour Lifestyle by 11.9% during the 4th quarter. Lester Murray Antman dba SimplyRich now owns 23,297 shares of the company’s stock valued at $626,000 after purchasing an additional 2,469 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Atour Lifestyle during the 3rd quarter valued at $143,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Atour Lifestyle during the 3rd quarter valued at $430,000. 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.