Envestnet Asset Management Inc. Purchases 9,917 Shares of First Advantage Co. (NYSE:FA)

Envestnet Asset Management Inc. lifted its position in shares of First Advantage Co. (NYSE:FA) by 31.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,900 shares of the company’s stock after acquiring an additional 9,917 shares during the quarter. Envestnet Asset Management Inc.’s holdings in First Advantage were worth $785,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Pictet Asset Management Holding SA bought a new stake in shares of First Advantage during the 4th quarter valued at $210,000. Brighton Jones LLC bought a new stake in First Advantage in the fourth quarter valued at about $257,000. Truist Financial Corp lifted its stake in First Advantage by 37.4% in the fourth 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 period. Oppenheimer Asset Management Inc. boosted its holdings in First Advantage by 17.6% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 19,626 shares of the company’s stock worth $368,000 after buying an additional 2,938 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of First Advantage during the 4th quarter worth about $375,000. Institutional investors and hedge funds own 94.91% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. William Blair reiterated an “outperform” rating on shares of First Advantage in a research report on Friday, February 28th. Barclays reissued an “equal weight” rating and set a $15.00 price target (down from $20.00) on shares of First Advantage in a research report on Thursday, April 10th. BMO Capital Markets decreased their price target on shares of First Advantage from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 price objective on shares of First Advantage in a research note on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, First Advantage presently has an average rating of “Moderate Buy” and a consensus target price of $65.80.

First Advantage Stock Up 3.6 %

First Advantage stock opened at $14.98 on Friday. First Advantage Co. has a twelve month low of $12.32 and a twelve month high of $20.79. 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 50 day moving average of $14.01 and a 200-day moving average of $17.12. The stock has a market capitalization of $2.60 billion, a PE ratio of 499.33 and a beta of 1.20.

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.