Atour Lifestyle (NASDAQ:ATAT) Shares Gap Up – What’s Next?

Atour Lifestyle Holdings Limited (NASDAQ:ATAT)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $30.99, but opened at $31.73. Atour Lifestyle shares last traded at $31.72, with a volume of 354,828 shares changing hands.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group started coverage on shares of 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 Stock Performance

The firm has a 50 day moving average price of $27.86 and a 200-day moving average price of $25.69. The company has a market cap of $4.27 billion, a P/E ratio of 26.79, a P/E/G ratio of 0.59 and a beta of 0.45.

Hedge Funds Weigh In On Atour Lifestyle

Several large investors have recently added to or reduced their stakes in the company. FMR LLC raised its position 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 purchasing an additional 693,342 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Atour Lifestyle during the 3rd quarter worth approximately $1,251,000. XTX Topco Ltd boosted its stake in 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 purchasing an additional 25,390 shares during the period. Sanctuary Advisors LLC acquired a new position in Atour Lifestyle in the 4th quarter valued at $1,344,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Atour Lifestyle during the 3rd quarter worth $2,741,000. 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.