Arizona State Retirement System Acquires 7,851 Shares of First Advantage Co. (NYSE:FA)

Arizona State Retirement System raised its stake in shares of First Advantage Co. (NYSE:FA) by 53.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,484 shares of the company’s stock after buying an additional 7,851 shares during the period. Arizona State Retirement System’s holdings in First Advantage were worth $421,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new stake in First Advantage during the 3rd quarter valued at $250,000. Brighton Jones LLC purchased a new stake in First Advantage during the 4th quarter valued at $257,000. Natixis Advisors LLC purchased a new stake in First Advantage during the 3rd quarter valued at $298,000. Oppenheimer Asset Management Inc. raised its stake in First Advantage by 27.1% during the 3rd 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, Truist Financial Corp raised its stake in First Advantage by 37.4% during the 4th quarter. Truist Financial Corp now owns 19,095 shares of the company’s stock valued at $358,000 after buying an additional 5,197 shares during the last quarter. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

First Advantage Trading Up 3.4 %

Shares of FA stock opened at $13.09 on Friday. First Advantage Co. has a 52-week low of $12.55 and a 52-week 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. The firm has a market capitalization of $2.27 billion, a PE ratio of 436.33 and a beta of 1.21. The stock has a fifty day simple moving average of $17.49 and a two-hundred day simple moving average of $18.51.

Analyst Ratings Changes

A number of brokerages have weighed in on FA. William Blair reiterated an “outperform” rating on shares of First Advantage in a research note on Friday, February 28th. BMO Capital Markets reduced their price objective on First Advantage from $24.00 to $22.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $22.00 price objective on shares of First Advantage in a research note on Thursday, January 23rd. Finally, Barclays reduced their price objective on First Advantage from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $58.67.

About First Advantage

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.