Bank of New York Mellon Corp Takes Position in First Advantage Co. $FA

Key Points

• Bank of New York Mellon acquired 415,569 First Advantage shares worth approximately $7.5 million, while institutional investors collectively owned 94.91% of the stock.
• Analyst sentiment improved, with a consensus “Moderate Buy” rating and an average price target of $23.33; Barclays raised its target to $30 and Needham upgraded the stock to “Buy.”
• First Advantage reported quarterly EPS of $0.35, beating estimates of $0.29, while revenue increased 14.9% year over year. The stock opened at $21.02, compared with a 52-week range of $8.82 to $25.15.

Bank of New York Mellon Corp bought a new stake in First Advantage Co. (NYSE:FA - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 415,569 shares of the company's stock, valued at approximately $7,501,000. Bank of New York Mellon Corp owned 0.24% of First Advantage at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State of Wyoming purchased a new stake in shares of First Advantage during the 2nd quarter worth about $81,000. Handelsbanken Fonder AB raised its holdings in First Advantage by 51.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 24,300 shares of the company's stock worth $439,000 after purchasing an additional 8,300 shares during the period. Versant Capital Management Inc boosted its position in First Advantage by 47.1% during the second quarter. Versant Capital Management Inc now owns 2,445 shares of the company's stock worth $44,000 after purchasing an additional 783 shares in the last quarter. Glenmede Trust Co. NA grew its holdings in First Advantage by 6.6% in the first quarter. Glenmede Trust Co. NA now owns 21,966 shares of the company's stock valued at $258,000 after purchasing an additional 1,359 shares during the period. Finally, Amundi acquired a new stake in First Advantage in the first quarter valued at approximately $241,000. 94.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FA has been the subject of several research analyst reports. Citigroup upped their target price on First Advantage from $18.00 to $22.00 and gave the stock a "neutral" rating in a research note on Monday, August 17th. Zacks Research raised shares of First Advantage from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 17th. Barclays boosted their price target on shares of First Advantage from $20.00 to $30.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. JPMorgan Chase & Co. upped their price objective on shares of First Advantage from $15.00 to $18.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. Finally, Needham & Company LLC raised shares of First Advantage from a "hold" rating to a "buy" rating and set a $28.00 price objective on the stock in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, First Advantage currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.33.

First Advantage Trading Up 4.7%

FA opened at $21.02 on Friday. 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's 50 day simple moving average is $20.69 and its two-hundred day simple moving average is $15.80. First Advantage Co. has a 1-year low of $8.82 and a 1-year high of $25.15. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 700.67 and a beta of 1.15.

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

Insider Activity at First Advantage

In other news, Director James Clark sold 4,921 shares of First Advantage stock in a transaction on Monday, June 8th. The stock was sold at an average price of $15.69, for a total transaction of $77,210.49. Following the transaction, the director owned 56,844 shares in the company, valued at $891,882.36. The trade was a 7.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.40% of the stock is currently owned by corporate insiders.

First Advantage Profile

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.

Want to see what other hedge funds are holding FA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Advantage Co. (NYSE:FA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.