Truist Financial Corp Boosts Holdings in First Advantage Co. (NYSE:FA)

Truist Financial Corp raised its stake in shares of First Advantage Co. (NYSE:FA) by 37.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,095 shares of the company’s stock after purchasing an additional 5,197 shares during the period. Truist Financial Corp’s holdings in First Advantage were worth $358,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Barclays PLC raised its position in shares of First Advantage by 57.3% in the third quarter. Barclays PLC now owns 81,669 shares of the company’s stock valued at $1,621,000 after buying an additional 29,752 shares during the last quarter. FMR LLC raised its position in shares of First Advantage by 50.8% in the third quarter. FMR LLC now owns 5,600,026 shares of the company’s stock valued at $111,161,000 after buying an additional 1,886,716 shares during the last quarter. Geode Capital Management LLC raised its position in shares of First Advantage by 0.8% in the third quarter. Geode Capital Management LLC now owns 1,294,063 shares of the company’s stock valued at $25,692,000 after buying an additional 9,718 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of First Advantage by 27.1% in the third quarter. Oppenheimer Asset Management Inc. now owns 16,688 shares of the company’s stock valued at $331,000 after buying an additional 3,561 shares during the last quarter. Finally, Cortland Associates Inc. MO acquired a new stake in shares of First Advantage in the fourth quarter valued at about $24,328,000. 94.91% of the stock is owned by hedge funds and other institutional investors.

First Advantage Stock Down 3.0 %

Shares of First Advantage stock opened at $13.80 on Wednesday. First Advantage Co. has a 52-week low of $13.77 and a 52-week high of $20.79. The company has a 50 day moving average of $18.37 and a 200 day moving average of $18.82. The company has a quick ratio of 3.85, a current ratio of 3.85 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $2.38 billion, a P/E ratio of 460.00 and a beta of 1.17.

Analysts Set New Price Targets

A number of brokerages have recently commented on FA. Needham & Company LLC reiterated a “hold” rating on shares of First Advantage in a research report on Wednesday, November 13th. Barclays reduced their target price on shares of First Advantage from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. BMO Capital Markets reduced their target price on shares of First Advantage from $24.00 to $22.00 and set an “outperform” rating for the company in a research report on Monday. William Blair restated an “outperform” rating on shares of First Advantage in a research report on Friday, February 28th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $22.00 price objective on shares of First Advantage in a research report on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $53.29.

First Advantage Company 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.