421,038 Shares of First Advantage Co. $FA Purchased by Bank of America Corp DE

Key Points

• Bank of America purchased 421,038 First Advantage shares worth approximately $7.6 million, giving it a 0.25% stake. Institutional investors and hedge funds collectively own 94.91% of the company.
• Analyst sentiment is favorable, with a consensus rating of “Moderate Buy” and an average price target of $23.33. Barclays, Needham, RBC, and Citigroup recently raised their price targets, while Zacks upgraded the stock to “strong buy.”
• First Advantage reported quarterly EPS of $0.35, exceeding expectations of $0.29, while revenue increased 14.9% year over year. Shares opened at $19.60, below the 50-day moving average of $20.94 but above the 200-day average of $16.91.

Bank of America Corp DE bought a new stake in shares of First Advantage Co. (NYSE:FA - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 421,038 shares of the company's stock, valued at approximately $7,600,000. Bank of America Corp DE owned 0.25% of First Advantage at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc boosted its position in First Advantage by 47.1% in the 2nd quarter. Versant Capital Management Inc now owns 2,445 shares of the company's stock valued at $44,000 after buying an additional 783 shares during the period. KBC Group NV purchased a new position in First Advantage in the first quarter valued at $35,000. Fifth Third Bancorp acquired a new position in First Advantage during the 1st quarter worth $45,000. Clearstead Advisors LLC grew its stake in First Advantage by 192.8% during the 4th quarter. Clearstead Advisors LLC now owns 4,333 shares of the company's stock worth $63,000 after purchasing an additional 2,853 shares in the last quarter. Finally, State of Wyoming purchased a new stake in First Advantage during the 2nd quarter worth about $81,000. 94.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FA has been the topic of a number of recent research reports. Barclays upped their target price on shares of First Advantage from $20.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Needham & Company LLC upgraded shares of First Advantage from a "hold" rating to a "buy" rating and set a $28.00 price target for the company in a report on Thursday, August 6th. Royal Bank Of Canada increased their price objective on shares of First Advantage from $21.00 to $24.00 and gave the company a "sector perform" rating in a research report on Friday, August 7th. Citigroup raised their price objective on shares of First Advantage from $18.00 to $22.00 and gave the company a "neutral" rating in a report on Monday, August 17th. Finally, Zacks Research raised shares of First Advantage from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, First Advantage currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.33.

First Advantage Trading Down 1.6%

NYSE FA opened at $19.60 on Friday. The firm's fifty day moving average price is $20.94 and its 200 day moving average price is $16.91. First Advantage Co. has a 12 month low of $8.82 and a 12 month high of $25.15. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.85 and a quick ratio of 3.85. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 653.33 and a beta of 1.15.

First Advantage (NYSE:FA - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. First Advantage had a net margin of 0.65% and a return on equity of 13.16%. During the same period in the prior year, the firm earned $0.27 earnings per share. The firm's revenue was up 14.9% on a year-over-year basis. First Advantage has set its FY 2026 guidance at 1.23-1.290 EPS. On average, sell-side analysts expect that First Advantage Co. will post 0.74 earnings per share for the current fiscal year.

About First Advantage

First Advantage Corporation is a global provider of employment background screening and workforce-management solutions. The company helps employers make informed hiring and onboarding decisions through services such as criminal-record searches, employment and education verification, identity verification, drug and health screening, motor vehicle record checks, and immigration and employment eligibility services.

Its technology platform is designed to support the hiring lifecycle, from recruiting and screening to onboarding, workforce monitoring, and offboarding.

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