34,045 Shares in First Advantage Co. (NYSE:FA) Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC purchased a new position in shares of First Advantage Co. (NYSE:FA) in the third quarter, Holdings Channel.com reports. The firm purchased 34,045 shares of the company’s stock, valued at approximately $676,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in shares of First Advantage by 6.3% during the 1st quarter. Principal Financial Group Inc. now owns 24,336 shares of the company’s stock valued at $395,000 after acquiring an additional 1,447 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. grew its holdings in First Advantage by 24.6% in the 1st quarter. Leith Wheeler Investment Counsel Ltd. now owns 603,022 shares of the company’s stock valued at $9,781,000 after buying an additional 119,100 shares during the last quarter. MQS Management LLC acquired a new stake in First Advantage in the 1st quarter valued at approximately $334,000. Capital Research Global Investors grew its holdings in First Advantage by 9.4% in the 1st quarter. Capital Research Global Investors now owns 5,777,481 shares of the company’s stock valued at $93,711,000 after buying an additional 496,898 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in First Advantage by 16.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,478 shares of the company’s stock valued at $252,000 after buying an additional 2,163 shares during the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

First Advantage Price Performance

Shares of FA stock opened at $17.56 on Friday. The company has a current ratio of 4.31, a quick ratio of 4.31 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $2.55 billion, a P/E ratio of 109.76 and a beta of 1.16. First Advantage Co. has a 12 month low of $12.46 and a 12 month high of $20.75. The stock has a 50 day moving average of $19.26 and a two-hundred day moving average of $17.45.

First Advantage (NYSE:FA) last posted its earnings results on Thursday, August 8th. The company reported $0.21 EPS for the quarter, hitting the consensus estimate of $0.21. The business had revenue of $184.55 million during the quarter, compared to the consensus estimate of $184.66 million. First Advantage had a return on equity of 13.94% and a net margin of 3.24%. First Advantage’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the company earned $0.24 EPS. As a group, equities analysts expect that First Advantage Co. will post 0.82 EPS for the current year.

Wall Street Analyst Weigh In

FA has been the topic of a number of research analyst reports. Citigroup raised their target price on First Advantage from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Truist Financial reduced their price objective on First Advantage from $250.00 to $249.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Finally, Wolfe Research downgraded First Advantage from an “outperform” rating to a “peer perform” rating in a research report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.