First Advantage (NYSE:FA) Shares Gap Down – Here’s What Happened

First Advantage Co. (NYSE:FA) shares 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.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 target price on shares of First Advantage in a report on Thursday, January 23rd. Barclays reaffirmed an “overweight” rating and issued a $22.00 price objective on shares of First Advantage in a research report on Wednesday, November 20th. William Blair reissued an “outperform” rating on shares of First Advantage in a research report on Wednesday, December 11th. 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 for the company. Finally, Needham & Company LLC reiterated a “hold” rating on shares of First Advantage in a report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $53.29.

First Advantage Stock Performance

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 has a market capitalization of $2.82 billion, a P/E ratio of 547.10 and a beta of 1.17. The company has a 50 day simple moving average of $18.66 and a 200-day simple moving average of $18.88.

Institutional Investors Weigh In On First Advantage

Institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new position in shares of First Advantage in the third quarter worth about $676,000. Emerald Advisers LLC grew its stake in First Advantage by 2.1% in the 3rd quarter. Emerald Advisers LLC now owns 1,183,050 shares of the company’s stock valued at $23,484,000 after buying an additional 24,217 shares in the last quarter. BloombergSen Inc. bought a new stake in First Advantage during the 3rd quarter valued at $423,000. TimesSquare Capital Management LLC raised its holdings in First Advantage by 6.8% during 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 during the period. Finally, Victory Capital Management Inc. lifted its position in shares of First Advantage by 9.0% during the third quarter. Victory Capital Management Inc. now owns 39,510 shares of the company’s stock worth $784,000 after acquiring an additional 3,249 shares in the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

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.