First Advantage Co. (NYSE:FA) Shares Bought by Palisade Capital Management LP

Palisade Capital Management LP lifted its stake in shares of First Advantage Co. (NYSE:FA - Free Report) by 23.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,562,809 shares of the company's stock after purchasing an additional 293,044 shares during the quarter. Palisade Capital Management LP owned about 0.90% of First Advantage worth $22,020,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Brighton Jones LLC bought a new position in First Advantage during the 4th quarter worth $257,000. Rhumbline Advisers grew its position in shares of First Advantage by 6.9% during the fourth quarter. Rhumbline Advisers now owns 78,696 shares of the company's stock worth $1,474,000 after acquiring an additional 5,104 shares during the last quarter. Truist Financial Corp grew its position in shares of First Advantage by 37.4% during the fourth quarter. Truist Financial Corp now owns 19,095 shares of the company's stock worth $358,000 after acquiring an additional 5,197 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of First Advantage by 2.6% in the 4th quarter. Bank of New York Mellon Corp now owns 220,366 shares of the company's stock worth $4,127,000 after acquiring an additional 5,597 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its position in First Advantage by 17.6% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 19,626 shares of the company's stock valued at $368,000 after purchasing an additional 2,938 shares during the last quarter. Institutional investors own 94.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FA shares. Royal Bank Of Canada cut shares of First Advantage from an "outperform" rating to a "sector perform" rating and set a $20.00 target price for the company. in a research report on Friday, May 9th. Barclays boosted their price objective on First Advantage from $15.00 to $18.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 29th. Finally, Needham & Company LLC restated a "hold" rating on shares of First Advantage in a research report on Monday, June 2nd. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $66.00.

First Advantage Price Performance

Shares of NYSE:FA traded up $0.20 during trading on Friday, reaching $17.16. The company had a trading volume of 381,654 shares, compared to its average volume of 906,721. The firm's fifty day moving average is $16.97 and its 200 day moving average is $16.66. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.85 and a current ratio of 3.85. The firm has a market capitalization of $2.98 billion, a PE ratio of 571.83 and a beta of 1.24. First Advantage Co. has a twelve month low of $12.32 and a twelve month high of $20.79.

First Advantage (NYSE:FA - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. First Advantage had a return on equity of 13.16% and a net margin of 0.65%. The business's quarterly revenue was up 109.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.17 EPS. On average, equities analysts forecast that First Advantage Co. will post 0.74 EPS for the current year.

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.