Vanguard Group Inc. Purchases 2,409,233 Shares of First Advantage Co. (NYSE:FA)

Vanguard Group Inc. raised its stake in First Advantage Co. (NYSE:FA - Free Report) by 48.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,425,305 shares of the company's stock after purchasing an additional 2,409,233 shares during the quarter. Vanguard Group Inc. owned approximately 4.30% of First Advantage worth $139,076,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FA. Barclays PLC grew 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 valued at $1,621,000 after buying an additional 29,752 shares in the last quarter. Truist Financial Corp lifted its stake in First Advantage by 37.4% in 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 during the last quarter. Geode Capital Management LLC grew its position in shares of First Advantage by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,294,063 shares of the company's stock valued at $25,692,000 after acquiring an additional 9,718 shares during the period. Cortland Associates Inc. MO acquired a new position in shares of First Advantage during the 4th quarter worth about $24,328,000. Finally, State Street Corp raised its holdings in shares of First Advantage by 6.1% in the 3rd quarter. State Street Corp now owns 1,253,081 shares of the company's stock valued at $24,874,000 after purchasing an additional 72,400 shares during the period. Institutional investors and hedge funds own 94.91% of the company's stock.

Remove Ads

First Advantage Stock Performance

Shares of FA traded up $0.88 during midday trading on Friday, reaching $14.71. 1,038,188 shares of the stock were exchanged, compared to its average volume of 729,692. The stock's 50 day simple moving average is $15.57 and its 200 day simple moving average is $17.70. The company has a market cap of $2.55 billion, a P/E ratio of 490.33 and a beta of 1.20. First Advantage Co. has a twelve month low of $12.32 and a twelve month high of $20.79. The company has a quick ratio of 3.85, a current ratio of 3.85 and a debt-to-equity ratio of 0.61.

Wall Street Analyst Weigh In

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