Wellington Management Group LLP Makes New Investment in First Advantage Co. (NYSE:FA)

Wellington Management Group LLP bought a new position in First Advantage Co. (NYSE:FA) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,827,801 shares of the company’s stock, valued at approximately $71,695,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Pictet Asset Management Holding SA bought a new stake in First Advantage during the fourth quarter worth $210,000. Intech Investment Management LLC purchased a new stake in shares of First Advantage during the 3rd quarter valued at $250,000. Brighton Jones LLC bought a new stake in shares of First Advantage during the 4th quarter worth $257,000. Truist Financial Corp boosted its holdings in shares of First Advantage by 37.4% in the 4th quarter. Truist Financial Corp now owns 19,095 shares of the company’s stock worth $358,000 after buying an additional 5,197 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in First Advantage by 17.6% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 19,626 shares of the company’s stock valued at $368,000 after buying an additional 2,938 shares during the period. Hedge funds and other institutional investors own 94.91% of the company’s stock.

First Advantage Trading Down 7.2 %

NYSE:FA opened at $13.62 on Friday. The company has a market cap of $2.36 billion, a P/E ratio of 454.00 and a beta of 1.21. First Advantage Co. has a 1 year low of $12.55 and a 1 year high of $20.79. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.85 and a quick ratio of 3.85. The stock’s fifty day moving average price is $16.28 and its two-hundred day moving average price is $17.98.

Analyst Ratings Changes

FA has been the topic of a number of research analyst reports. Barclays dropped their target price on shares of First Advantage from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. William Blair reiterated an “outperform” rating on shares of First Advantage in a research note on Friday, February 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $22.00 target price on shares of First Advantage in a research report on Thursday, January 23rd. Finally, BMO Capital Markets dropped their price target 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. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $66.80.

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.