Norges Bank Acquires New Stake in First Advantage Co. (NYSE:FA)

Norges Bank acquired a new stake in First Advantage Co. (NYSE:FA - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 156,006 shares of the company's stock, valued at approximately $2,922,000. Norges Bank owned 0.09% of First Advantage at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC bought a new position in First Advantage during the fourth quarter worth about $257,000. Truist Financial Corp grew 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 worth $358,000 after buying an additional 5,197 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in First Advantage by 17.6% during the 4th 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 during the period. KLP Kapitalforvaltning AS acquired a new position in First Advantage in the 4th quarter valued at $375,000. Finally, Natixis Advisors LLC raised its holdings in First Advantage by 35.4% in the 4th quarter. Natixis Advisors LLC now owns 20,353 shares of the company's stock valued at $381,000 after acquiring an additional 5,317 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company's stock.

First Advantage Price Performance

Shares of NYSE:FA traded down $1.04 during trading on Tuesday, hitting $13.97. 1,024,371 shares of the company were exchanged, compared to its average volume of 1,068,977. First Advantage Co. has a 1-year low of $12.32 and a 1-year high of $20.79. The company has a market capitalization of $2.42 billion, a P/E ratio of 465.67 and a beta of 1.20. 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 business's 50 day moving average is $15.49 and its 200-day moving average is $17.65.

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Analyst Upgrades and Downgrades

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

First Advantage 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.