Capital World Investors Purchases 3,718,096 Shares of First Advantage Co. (NYSE:FA)

Capital World Investors raised its position in shares of First Advantage Co. (NYSE:FA - Free Report) by 246.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,227,076 shares of the company's stock after buying an additional 3,718,096 shares during the quarter. Capital World Investors owned 3.03% of First Advantage worth $97,903,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in FA. Summit Investment Advisors Inc. grew its holdings in shares of First Advantage by 15.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,267 shares of the company's stock valued at $117,000 after buying an additional 832 shares in the last quarter. Pictet Asset Management Holding SA purchased a new stake in shares of First Advantage during the 4th quarter worth about $210,000. Brighton Jones LLC acquired a new position in First Advantage in the fourth quarter worth approximately $257,000. Truist Financial Corp raised its position in First Advantage by 37.4% during the fourth quarter. Truist Financial Corp now owns 19,095 shares of the company's stock valued at $358,000 after acquiring an additional 5,197 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in First Advantage by 17.6% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 19,626 shares of the company's stock worth $368,000 after acquiring an additional 2,938 shares in the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

First Advantage Stock Performance

Shares of FA traded down $0.23 during trading hours on Friday, reaching $14.05. 1,307,715 shares of the company traded hands, compared to its average volume of 759,854. First Advantage Co. has a 1-year low of $12.32 and a 1-year high of $20.79. The stock has a market cap of $2.44 billion, a P/E ratio of 468.33 and a beta of 1.20. The stock's fifty day moving average is $14.43 and its 200 day moving average is $17.31. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.85 and a current ratio of 3.85.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Barclays reissued an "equal weight" rating and issued a $15.00 price objective (down from $20.00) on shares of First Advantage in a research note on Thursday, April 10th. Royal Bank of Canada reissued an "outperform" rating and issued a $22.00 price target on shares of First Advantage in a research report on Thursday, January 23rd. BMO Capital Markets decreased their price objective on shares of First Advantage from $24.00 to $22.00 and set an "outperform" rating for the company in a report on Monday, March 3rd. Finally, William Blair reiterated an "outperform" rating on shares of First Advantage in a report on Friday, February 28th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $65.80.

About First Advantage

First Advantage Corporation provides employment background screening, identity, and verification solutions worldwide. It offers pre-onboarding products and solutions, such as criminal background checks, drug/health screening, extended workforce screening, FBI channeling, identity checks and biometric fraud mitigation tools, education/work history verification, driver records and compliance, healthcare credentials, executive screening, and other screening products.