Newport Asia LLC Trims Stock Position in Atour Lifestyle Holdings Limited (NASDAQ:ATAT)

Newport Asia LLC lessened its position in Atour Lifestyle Holdings Limited (NASDAQ:ATAT) by 31.7% during the fourth quarter, Holdings Channel reports. The fund owned 65,956 shares of the company’s stock after selling 30,639 shares during the period. Atour Lifestyle comprises 100.0% of Newport Asia LLC’s holdings, making the stock its biggest holding. Newport Asia LLC’s holdings in Atour Lifestyle were worth $1,774,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ATAT. Loomis Sayles & Co. L P bought a new position in Atour Lifestyle in the third quarter valued at $34,000. Public Employees Retirement System of Ohio bought a new position in Atour Lifestyle in the third quarter valued at $143,000. Cornerstone Investment Partners LLC bought a new position in Atour Lifestyle in the fourth quarter valued at $213,000. Y Intercept Hong Kong Ltd bought a new position in Atour Lifestyle in the third quarter valued at $430,000. Finally, HighTower Advisors LLC bought a new position in shares of Atour Lifestyle during the fourth quarter valued at about $512,000. Institutional investors own 17.79% of the company’s stock.

Atour Lifestyle Price Performance

Shares of ATAT opened at $30.92 on Wednesday. Atour Lifestyle Holdings Limited has a one year low of $15.22 and a one year high of $33.32. The company has a 50-day simple moving average of $28.52 and a two-hundred day simple moving average of $26.56. The firm has a market capitalization of $4.25 billion, a PE ratio of 26.66, a price-to-earnings-growth ratio of 0.59 and a beta of 0.37.

Analysts Set New Price Targets

ATAT has been the topic of a number of recent research reports. The Goldman Sachs Group initiated coverage on Atour Lifestyle in a research note on Monday, December 9th. They set a “buy” rating and a $34.40 price objective on the stock. UBS Group set a $37.30 target price on shares of Atour Lifestyle and gave the stock a “buy” rating in a report on Thursday, March 6th. Finally, Bank of America increased their target price on shares of Atour Lifestyle from $35.30 to $36.80 and gave the stock a “buy” rating in a report on Friday, March 14th.

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.