Allspring Global Investments Holdings LLC Buys New Stake in First Advantage Co. (NYSE:FA)

Allspring Global Investments Holdings LLC bought a new position in First Advantage Co. (NYSE:FA - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 34,045 shares of the company's stock, valued at approximately $676,000.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP lifted its position in First Advantage by 49.7% during the second quarter. Quarry LP now owns 2,607 shares of the company's stock valued at $42,000 after acquiring an additional 865 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of First Advantage in the second quarter worth $209,000. Oppenheimer Asset Management Inc. purchased a new position in shares of First Advantage in the second quarter worth $211,000. Truist Financial Corp purchased a new position in shares of First Advantage in the second quarter worth $234,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of First Advantage by 16.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,478 shares of the company's stock worth $252,000 after buying an additional 2,163 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors.

First Advantage Price Performance

Shares of NYSE FA traded down $0.56 during trading on Friday, hitting $17.56. The company had a trading volume of 1,982,309 shares, compared to its average volume of 461,964. The stock has a fifty day simple moving average of $19.26 and a two-hundred day simple moving average of $17.45. The company has a quick ratio of 4.31, a current ratio of 4.31 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 109.76 and a beta of 1.16. First Advantage Co. has a fifty-two week low of $12.46 and a fifty-two week high of $20.75.

First Advantage (NYSE:FA - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.21 earnings per share for the quarter, hitting the consensus estimate of $0.21. First Advantage had a net margin of 3.24% and a return on equity of 13.94%. The firm had revenue of $184.55 million for the quarter, compared to the consensus estimate of $184.66 million. During the same period last year, the firm posted $0.24 earnings per share. The company's revenue for the quarter was down .4% on a year-over-year basis. On average, research analysts expect that First Advantage Co. will post 0.82 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Citigroup increased their price objective on shares of First Advantage from $19.00 to $21.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 25th. Wolfe Research lowered shares of First Advantage from an "outperform" rating to a "peer perform" rating in a research report on Thursday, October 10th. Finally, Truist Financial dropped their price target on shares of First Advantage from $250.00 to $249.00 and set a "buy" rating on the stock in a research report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $77.25.

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.