First Advantage (NYSE:FA) Sees Strong Trading Volume - Here's Why

Shares of First Advantage Co. (NYSE:FA - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 1,526,861 shares were traded during mid-day trading, an increase of 123% from the previous session's volume of 686,075 shares.The stock last traded at $14.70 and had previously closed at $14.43.

Wall Street Analysts Forecast Growth

FA has been the topic of a number of recent analyst reports. Barclays cut their price target on First Advantage from $22.00 to $20.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. BMO Capital Markets reduced 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. Royal Bank of Canada reissued an "outperform" rating and set a $22.00 target price on shares of First Advantage in a research note on Thursday, January 23rd. Finally, William Blair reiterated an "outperform" rating on shares of First Advantage in a report on Friday, February 28th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $66.80.

First Advantage Stock Down 2.0 %

The business's 50 day simple moving average is $16.28 and its 200 day simple moving average is $17.96. The company has a quick ratio of 3.85, a current ratio of 3.85 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $2.32 billion, a PE ratio of 445.00 and a beta of 1.20.

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Institutional Trading of First Advantage

Several hedge funds and other institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of First Advantage by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 418,580 shares of the company's stock worth $8,309,000 after purchasing an additional 5,361 shares during the period. State Street Corp grew its holdings in shares of First Advantage by 6.1% during the 3rd quarter. State Street Corp now owns 1,253,081 shares of the company's stock valued at $24,874,000 after acquiring an additional 72,400 shares in the last quarter. Barclays PLC increased its stake in shares of First Advantage by 57.3% in the third quarter. Barclays PLC now owns 81,669 shares of the company's stock worth $1,621,000 after acquiring an additional 29,752 shares during the last quarter. Geode Capital Management LLC grew its stake in First Advantage by 0.8% in the third quarter. Geode Capital Management LLC now owns 1,294,063 shares of the company's stock valued at $25,692,000 after purchasing an additional 9,718 shares in the last quarter. Finally, Brighton Jones LLC acquired a new stake in shares of First Advantage during the 4th quarter valued at about $257,000. Institutional investors and hedge funds own 94.91% of the company's stock.

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.