Diamond Hill Capital Management Inc. Has $57.09 Million Position in First Advantage Co. (NYSE:FA)

Diamond Hill Capital Management Inc. lessened its holdings in shares of First Advantage Co. (NYSE:FA) by 5.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,875,941 shares of the company’s stock after selling 162,830 shares during the period. Diamond Hill Capital Management Inc.’s holdings in First Advantage were worth $57,087,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FA. Dimensional Fund Advisors LP raised its position in First Advantage by 8.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,131,188 shares of the company’s stock worth $50,314,000 after purchasing an additional 254,219 shares during the last quarter. Capital Research Global Investors raised its position in shares of First Advantage by 9.4% during the first quarter. Capital Research Global Investors now owns 5,777,481 shares of the company’s stock worth $93,711,000 after acquiring an additional 496,898 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of First Advantage during the third quarter valued at $676,000. Sei Investments Co. boosted its holdings in First Advantage by 27.5% in the second quarter. Sei Investments Co. now owns 126,159 shares of the company’s stock valued at $2,027,000 after acquiring an additional 27,237 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in First Advantage by 16.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,478 shares of the company’s stock worth $252,000 after purchasing an additional 2,163 shares during the period. 94.91% of the stock is currently owned by institutional investors and hedge funds.

First Advantage Stock Performance

Shares of NYSE:FA opened at $18.48 on Monday. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 22.00 and a beta of 1.18. The firm’s 50 day simple moving average is $19.17 and its 200 day simple moving average is $17.58. The company has a debt-to-equity ratio of 0.61, a current ratio of 4.31 and a quick ratio of 4.31. First Advantage Co. has a fifty-two week low of $13.11 and a fifty-two week high of $20.75.

First Advantage (NYSE:FA) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.21. First Advantage had a net margin of 3.24% and a return on equity of 13.94%. The company had revenue of $184.55 million for the quarter, compared to analysts’ expectations of $184.66 million. During the same period last year, the firm posted $0.24 earnings per share. The business’s quarterly revenue was down .4% compared to the same quarter last year. As a group, sell-side analysts forecast that First Advantage Co. will post 0.82 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on FA shares. Wolfe Research lowered shares of First Advantage from an “outperform” rating to a “peer perform” rating in a research note on Thursday, October 10th. Truist Financial cut their price objective on shares of First Advantage from $250.00 to $249.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Finally, Citigroup lifted their target price on shares of First Advantage from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $77.25.

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.