First Advantage Co. $FA Position Reduced by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its stake in First Advantage Co. by 54.3%, selling over 2 million shares during the first quarter.
• Analyst ratings for First Advantage are mixed, with Barclays raising their price target from $15.00 to $18.00, while Royal Bank of Canada downgraded the stock to "sector perform" at a $20.00 target.
• First Advantage reported a quarterly earnings per share of $0.27, exceeding estimates of $0.24, with a revenue increase of 111.7% year-over-year.

Wellington Management Group LLP decreased its position in First Advantage Co. (NYSE:FA - Free Report) by 54.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,750,000 shares of the company's stock after selling 2,077,801 shares during the quarter. Wellington Management Group LLP owned 1.01% of First Advantage worth $24,658,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in FA. Brighton Jones LLC acquired a new stake in shares of First Advantage during the fourth quarter worth about $257,000. Wells Fargo & Company MN increased its holdings in shares of First Advantage by 62.6% in the 4th quarter. Wells Fargo & Company MN now owns 30,927 shares of the company's stock valued at $579,000 after acquiring an additional 11,905 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of First Advantage by 31.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 41,900 shares of the company's stock valued at $785,000 after acquiring an additional 9,917 shares during the last quarter. Invesco Ltd. raised its stake in First Advantage by 17.8% during the 4th quarter. Invesco Ltd. now owns 100,800 shares of the company's stock worth $1,888,000 after acquiring an additional 15,229 shares in the last quarter. Finally, Barclays PLC raised its stake in First Advantage by 33.9% during the 4th quarter. Barclays PLC now owns 109,327 shares of the company's stock worth $2,048,000 after acquiring an additional 27,658 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company's stock.

Wall Street Analysts Forecast Growth

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

First Advantage Price Performance

Shares of NYSE:FA traded up $0.03 during trading on Friday, reaching $16.36. The company had a trading volume of 584,190 shares, compared to its average volume of 1,047,253. The firm's fifty day moving average is $16.99 and its 200 day moving average is $16.24. The firm has a market capitalization of $2.85 billion, a PE ratio of 545.33 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. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.85 and a current ratio of 3.85.

First Advantage (NYSE:FA - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.03. First Advantage had a net margin of 0.65% and a return on equity of 13.16%. The company's revenue for the quarter was up 111.7% on a year-over-year basis. During the same period last year, the company posted $0.21 earnings per share. First Advantage has set its FY 2025 guidance at 0.860-1.030 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.