First Trust Advisors LP increased its stake in shares of First Advantage Co. (NYSE:FA – Free Report) by 102.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 338,260 shares of the company’s stock after acquiring an additional 171,215 shares during the quarter. First Trust Advisors LP’s holdings in First Advantage were worth $3,978,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Leith Wheeler Investment Counsel Ltd. raised its holdings in shares of First Advantage by 22.8% during the 1st quarter. Leith Wheeler Investment Counsel Ltd. now owns 728,332 shares of the company’s stock worth $8,565,000 after acquiring an additional 135,418 shares during the period. KBC Group NV purchased a new stake in shares of First Advantage in the first quarter valued at about $35,000. Fifth Third Bancorp purchased a new stake in shares of First Advantage in the first quarter valued at about $45,000. Praxis Investment Management Inc. acquired a new stake in First Advantage during the first quarter worth about $148,000. Finally, Invesco Ltd. increased its position in First Advantage by 10.8% during the fourth quarter. Invesco Ltd. now owns 139,192 shares of the company’s stock worth $2,022,000 after purchasing an additional 13,554 shares during the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.
First Advantage Stock Down 0.4%
Shares of NYSE:FA opened at $20.56 on Thursday. The business has a 50-day moving average price of $18.54 and a 200 day moving average price of $14.56. The company has a current ratio of 3.85, a quick ratio of 3.85 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 685.33 and a beta of 1.17. First Advantage Co. has a 12-month low of $8.82 and a 12-month high of $22.78.
Insiders Place Their Bets
In other First Advantage news, Director James Lindsey Clark sold 4,921 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $15.69, for a total transaction of $77,210.49. Following the completion of the transaction, the director owned 56,844 shares of the company’s stock, valued at $891,882.36. This trade represents a 7.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.40% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of brokerages have commented on FA. Barclays lifted their target price on shares of First Advantage from $15.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Stifel Nicolaus set a $18.00 price target on shares of First Advantage in a research note on Friday, May 8th. Royal Bank Of Canada raised their price target on shares of First Advantage from $17.00 to $21.00 and gave the stock a “sector perform” rating in a report on Monday. JPMorgan Chase & Co. lifted their price target on shares of First Advantage from $15.00 to $18.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Citigroup upped their price objective on First Advantage from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.00.
Read Our Latest Research Report on FA
About First Advantage
First Advantage is a global provider of background screening, identity verification and workforce risk management solutions. The company delivers a comprehensive suite of services that help employers verify candidate credentials, manage regulatory compliance and mitigate risk throughout the employee lifecycle. Its platform is built to integrate with leading human capital management and applicant tracking systems, enabling a seamless and scalable experience for organizations of all sizes.
The company’s core offerings include pre-employment and continuous background screening, digital identity verification, drug and health testing, and ongoing employee monitoring.
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