The Goldman Sachs Group Initiates Coverage on Atour Lifestyle (NASDAQ:ATAT)

The Goldman Sachs Group began coverage on shares of Atour Lifestyle (NASDAQ:ATAT) in a research note issued on Monday, MarketBeat.com reports. The brokerage set a “buy” rating and a $34.40 price target on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 25.92% from the stock’s current price.

Atour Lifestyle Price Performance

Shares of Atour Lifestyle stock opened at $27.32 on Monday. The company’s 50 day moving average price is $26.63 and its two-hundred day moving average price is $21.36. The firm has a market capitalization of $3.76 billion, a P/E ratio of 23.55, a P/E/G ratio of 0.62 and a beta of 0.52. Atour Lifestyle has a fifty-two week low of $15.22 and a fifty-two week high of $29.90.

Hedge Funds Weigh In On Atour Lifestyle

Several large investors have recently bought and sold shares of the company. SG Americas Securities LLC increased its stake in shares of Atour Lifestyle by 1,423.5% in the second quarter. SG Americas Securities LLC now owns 233,801 shares of the company’s stock valued at $4,290,000 after buying an additional 218,455 shares during the period. M&G Plc acquired a new position in Atour Lifestyle in the 2nd quarter valued at approximately $23,181,000. Serenity Capital Management PTE. LTD. acquired a new position in shares of Atour Lifestyle during the second quarter worth $5,046,000. Acadian Asset Management LLC acquired a new position in shares of Atour Lifestyle during the second quarter worth $7,940,000. Finally, Prudential PLC bought a new stake in shares of Atour Lifestyle in the second quarter worth $13,161,000. 17.79% of the stock is currently owned by institutional investors.

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.