Geode Capital Management LLC Raises Stake in First Advantage Co. (NYSE:FA)

Geode Capital Management LLC grew its stake in First Advantage Co. (NYSE:FA - Free Report) by 15.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,490,395 shares of the company's stock after acquiring an additional 196,332 shares during the quarter. Geode Capital Management LLC owned 0.86% of First Advantage worth $27,921,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Pictet Asset Management Holding SA purchased a new position in First Advantage in the 4th quarter worth approximately $210,000. Brighton Jones LLC purchased a new position in shares of First Advantage in the fourth quarter worth $257,000. Truist Financial Corp lifted its holdings 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 valued at $358,000 after purchasing an additional 5,197 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of First Advantage by 17.6% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 19,626 shares of the company's stock valued at $368,000 after buying an additional 2,938 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in First Advantage in the 4th quarter worth about $375,000. 94.91% of the stock is owned by hedge funds and other institutional investors.

First Advantage Stock Performance

Shares of NYSE:FA traded up $0.63 during midday trading on Wednesday, hitting $14.26. The company had a trading volume of 263,739 shares, compared to its average volume of 1,071,852. First Advantage Co. has a 12-month low of $12.32 and a 12-month high of $20.79. The company has a fifty day moving average of $14.77 and a two-hundred day moving average of $17.41. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 475.33 and a beta of 1.20. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.85 and a quick ratio of 3.85.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FA. Barclays reaffirmed an "equal weight" rating and set a $15.00 price target (down previously from $20.00) on shares of First Advantage in a report on Thursday, April 10th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $22.00 target price on shares of First Advantage in a research report on Thursday, January 23rd. William Blair reiterated an "outperform" rating on shares of First Advantage in a research note on Friday, February 28th. Finally, BMO Capital Markets dropped their price target on First Advantage from $24.00 to $22.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $65.80.

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.