Principal Financial Group Inc. Acquires 2,491 Shares of First Advantage Co. (NYSE:FA)

Principal Financial Group Inc. boosted its stake in shares of First Advantage Co. (NYSE:FA) by 10.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,827 shares of the company’s stock after acquiring an additional 2,491 shares during the quarter. Principal Financial Group Inc.’s holdings in First Advantage were worth $431,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. National Bank of Canada FI acquired a new stake in shares of First Advantage in the 4th quarter valued at $179,000. Charles Schwab Investment Management Inc. increased its position in First Advantage by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 406,641 shares of the company’s stock worth $6,738,000 after purchasing an additional 8,958 shares during the period. Dimensional Fund Advisors LP raised its holdings in First Advantage by 10.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,660,820 shares of the company’s stock worth $44,090,000 after purchasing an additional 255,807 shares during the last quarter. Sunriver Management LLC lifted its position in First Advantage by 26.4% during the 4th quarter. Sunriver Management LLC now owns 1,151,665 shares of the company’s stock valued at $19,083,000 after purchasing an additional 240,464 shares during the period. Finally, Cat Rock Capital Management LP boosted its stake in shares of First Advantage by 10.0% in the 4th quarter. Cat Rock Capital Management LP now owns 3,325,859 shares of the company’s stock valued at $55,109,000 after purchasing an additional 303,000 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

First Advantage Stock Performance

Shares of FA opened at $19.56 on Friday. The firm’s 50 day moving average price is $17.61 and its two-hundred day moving average price is $16.61. The company has a debt-to-equity ratio of 0.61, a quick ratio of 4.31 and a current ratio of 4.31. First Advantage Co. has a twelve month low of $12.46 and a twelve month high of $19.71. The firm has a market cap of $2.84 billion, a P/E ratio of 88.91, a PEG ratio of 3.71 and a beta of 1.16.

First Advantage (NYSE:FA) last released its earnings results on Thursday, August 8th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.21. The firm had revenue of $184.55 million during the quarter, compared to analysts’ expectations of $184.66 million. First Advantage had a return on equity of 13.94% and a net margin of 3.24%. The company’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS. On average, analysts forecast that First Advantage Co. will post 0.82 EPS for the current fiscal year.

Insider Activity at First Advantage

In other First Advantage news, Director James Lindsey Clark sold 2,100 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $15.48, for a total transaction of $32,508.00. Following the sale, the director now directly owns 42,927 shares of the company’s stock, valued at $664,509.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Truist Financial cut their target price on First Advantage from $250.00 to $249.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.00.

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.