Jennison Associates LLC Makes New $6.63 Million Investment in First Advantage Co. (NYSE:FA)

Jennison Associates LLC bought a new stake in shares of First Advantage Co. (NYSE:FA - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 333,887 shares of the company's stock, valued at approximately $6,628,000. Jennison Associates LLC owned 0.23% of First Advantage as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. LMR Partners LLP grew its stake in First Advantage by 104.3% in the third quarter. LMR Partners LLP now owns 26,246 shares of the company's stock worth $521,000 after purchasing an additional 13,400 shares during the period. Natixis Advisors LLC purchased a new stake in First Advantage in the third quarter worth $298,000. Oppenheimer Asset Management Inc. boosted its holdings in First Advantage by 27.1% in the third quarter. Oppenheimer Asset Management Inc. now owns 16,688 shares of the company's stock worth $331,000 after acquiring an additional 3,561 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in First Advantage by 9.0% in the third quarter. Victory Capital Management Inc. now owns 39,510 shares of the company's stock worth $784,000 after acquiring an additional 3,249 shares in the last quarter. Finally, TimesSquare Capital Management LLC boosted its holdings in First Advantage by 6.8% in the third quarter. TimesSquare Capital Management LLC now owns 89,830 shares of the company's stock worth $1,783,000 after acquiring an additional 5,730 shares in the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

First Advantage Price Performance

First Advantage stock traded up $0.55 during midday trading on Friday, reaching $19.10. 766,962 shares of the stock traded hands, compared to its average volume of 1,386,931. The stock's fifty day moving average is $18.98 and its 200-day moving average is $17.68. First Advantage Co. has a 12 month low of $13.88 and a 12 month high of $20.79. The stock has a market cap of $3.30 billion, a P/E ratio of 636.67 and a beta of 1.18. The company has a quick ratio of 3.85, a current ratio of 3.85 and a debt-to-equity ratio of 0.61.

First Advantage (NYSE:FA - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.01. The company had revenue of $199.10 million during the quarter, compared to analyst estimates of $204.39 million. First Advantage had a return on equity of 13.16% and a net margin of 0.65%. The firm's revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 earnings per share. As a group, equities research analysts anticipate that First Advantage Co. will post 0.75 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on FA. Needham & Company LLC reissued a "hold" rating on shares of First Advantage in a report on Wednesday, November 13th. Barclays reissued an "overweight" rating and issued a $22.00 target price on shares of First Advantage in a report on Wednesday. William Blair reaffirmed an "outperform" rating on shares of First Advantage in a report on Wednesday, November 13th. Royal Bank of Canada began coverage on First Advantage in a report on Friday, November 15th. They issued an "outperform" rating and a $22.00 target price on the stock. Finally, Wolfe Research downgraded First Advantage from an "outperform" rating to a "peer perform" rating in a report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $58.83.

First Advantage Company Profile

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.