T. Rowe Price Investment Management Inc. Raises Holdings in First Advantage Co. $FA

Key Points

• T. Rowe Price Investment Management Inc. has significantly increased its holdings in First Advantage Co. by 139.4%, now owning over 2.1 million shares worth approximately $30.56 million.
• Analysts have mixed opinions on First Advantage, with Royal Bank of Canada downgrading the stock to "sector perform" while Barclays raised the target price from $15.00 to $18.00.
• First Advantage reported a 111.7% increase in quarterly revenue year-over-year and exceeded analysts' EPS expectations with results of $0.27.

T. Rowe Price Investment Management Inc. grew its holdings in First Advantage Co. (NYSE:FA - Free Report) by 139.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,168,792 shares of the company's stock after purchasing an additional 1,262,787 shares during the period. T. Rowe Price Investment Management Inc. owned about 1.25% of First Advantage worth $30,559,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Brighton Jones LLC purchased a new position in shares of First Advantage during the fourth quarter valued at $257,000. Wells Fargo & Company MN grew its stake in First Advantage by 62.6% in the fourth quarter. Wells Fargo & Company MN now owns 30,927 shares of the company's stock valued at $579,000 after purchasing an additional 11,905 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in First Advantage by 31.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 41,900 shares of the company's stock valued at $785,000 after purchasing an additional 9,917 shares during the last quarter. Invesco Ltd. grew its stake in First Advantage by 17.8% in the fourth quarter. Invesco Ltd. now owns 100,800 shares of the company's stock valued at $1,888,000 after purchasing an additional 15,229 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in First Advantage by 51.5% in the fourth quarter. Legal & General Group Plc now owns 93,109 shares of the company's stock valued at $1,744,000 after purchasing an additional 31,659 shares during the last quarter. Hedge funds and other institutional investors own 94.91% of the company's stock.

First Advantage Stock Performance

Shares of First Advantage stock traded up $0.04 on Friday, reaching $16.37. 111,900 shares of the stock were exchanged, compared to its average volume of 1,044,122. The company has a quick ratio of 3.85, a current ratio of 3.85 and a debt-to-equity ratio of 0.61. First Advantage Co. has a twelve month low of $12.32 and a twelve month high of $20.79. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 545.33 and a beta of 1.24. The business has a 50 day moving average price of $16.99 and a two-hundred day moving average price of $16.26.

First Advantage (NYSE:FA - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.03. First Advantage had a return on equity of 13.16% and a net margin of 0.65%.During the same period in the prior year, the firm earned $0.21 earnings per share. First Advantage's quarterly revenue was up 111.7% on a year-over-year basis. First Advantage has set its FY 2025 guidance at 0.860-1.030 EPS. Analysts anticipate that First Advantage Co. will post 0.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FA. Barclays lifted their target price on First Advantage from $15.00 to $18.00 and gave the company an "equal weight" rating in a research note on Thursday, May 29th. Needham & Company LLC restated a "hold" rating on shares of First Advantage in a research note on Thursday, August 21st. Finally, Royal Bank Of Canada lowered First Advantage from an "outperform" rating to a "sector perform" rating and set a $20.00 price target on the stock. in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $20.25.

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.