First Advantage (NYSE:FA) Shares Gap Down – What’s Next?

First Advantage Co. (NYSE:FA)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $18.58, but opened at $17.21. First Advantage shares last traded at $16.75, with a volume of 249,865 shares.

Analyst Ratings Changes

Several equities research analysts recently commented on FA shares. William Blair reiterated an “outperform” rating on shares of First Advantage in a research report on Wednesday, December 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 target price on shares of First Advantage in a research report on Thursday, January 23rd. Barclays reissued an “overweight” rating and issued a $22.00 price target on shares of First Advantage in a research note on Wednesday, November 20th. BMO Capital Markets began coverage on First Advantage in a report on Wednesday, December 11th. They issued an “outperform” rating and a $20.00 target price on the stock. Finally, Needham & Company LLC restated a “hold” rating on shares of First Advantage in a report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, First Advantage currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.29.

First Advantage Stock Performance

The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 547.10 and a beta of 1.17. The company has a 50 day moving average price of $18.66 and a 200 day moving average price of $18.88. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.85 and a current ratio of 3.85.

Institutional Investors Weigh In On First Advantage

Several hedge funds and other institutional investors have recently modified their holdings of FA. Allspring Global Investments Holdings LLC bought a new stake in First Advantage during the 3rd quarter valued at $676,000. Emerald Advisers LLC increased its position in shares of First Advantage by 2.1% during the third quarter. Emerald Advisers LLC now owns 1,183,050 shares of the company’s stock worth $23,484,000 after acquiring an additional 24,217 shares in the last quarter. BloombergSen Inc. acquired a new stake in shares of First Advantage in the 3rd quarter worth about $423,000. TimesSquare Capital Management LLC lifted its position in First Advantage by 6.8% in the 3rd quarter. TimesSquare Capital Management LLC now owns 89,830 shares of the company’s stock valued at $1,783,000 after acquiring an additional 5,730 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in First Advantage by 9.0% during the 3rd quarter. Victory Capital Management Inc. now owns 39,510 shares of the company’s stock worth $784,000 after purchasing an additional 3,249 shares in the last quarter. Institutional investors own 94.91% of the company’s stock.

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.