First Advantage (NYSE:FA) Sees Strong Trading Volume – What’s Next?

First Advantage Co. (NYSE:FA) shares saw unusually-strong trading volume on Wednesday . Approximately 1,526,861 shares traded hands during trading, an increase of 123% from the previous session’s volume of 686,075 shares.The stock last traded at $14.70 and had previously closed at $14.43.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $22.00 price objective 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. BMO Capital Markets cut their target price on First Advantage from $24.00 to $22.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Finally, Barclays lowered their price target on First Advantage from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $66.80.

First Advantage Stock Up 2.4 %

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 $2.56 billion, a price-to-earnings ratio of 492.33 and a beta of 1.21. The business’s 50-day moving average is $16.52 and its 200-day moving average is $18.07.

Hedge Funds Weigh In On First Advantage

Institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP purchased a new position in First Advantage during the fourth quarter valued at approximately $71,695,000. California State Teachers Retirement System grew its stake in shares of First Advantage by 48.1% during the 4th quarter. California State Teachers Retirement System now owns 71,154 shares of the company’s stock worth $1,333,000 after purchasing an additional 23,102 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of First Advantage by 71.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 222,569 shares of the company’s stock valued at $4,169,000 after purchasing an additional 92,574 shares in the last quarter. Two Sigma Investments LP lifted its stake in shares of First Advantage by 65.3% in the 4th quarter. Two Sigma Investments LP now owns 180,532 shares of the company’s stock valued at $3,381,000 after purchasing an additional 71,298 shares during the period. Finally, ProShare Advisors LLC purchased a new stake in First Advantage during the fourth quarter worth $316,000. Institutional investors and hedge funds own 94.91% of the company’s stock.

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.