Renaissance Technologies LLC Lowers Holdings in First Advantage Co. (NYSE:FA)

Renaissance Technologies LLC reduced its position in shares of First Advantage Co. (NYSE:FA) by 64.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,400 shares of the company’s stock after selling 91,700 shares during the period. Renaissance Technologies LLC’s holdings in First Advantage were worth $810,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. bought a new position in First Advantage in the 2nd quarter worth about $211,000. Price T Rowe Associates Inc. MD lifted its position in First Advantage by 16.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,478 shares of the company’s stock valued at $252,000 after purchasing an additional 2,163 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in First Advantage by 38.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,948 shares of the company’s stock worth $256,000 after buying an additional 4,414 shares in the last quarter. Trium Capital LLP purchased a new stake in shares of First Advantage during the 2nd quarter valued at $324,000. Finally, MQS Management LLC bought a new position in First Advantage in the first quarter valued at $334,000. Hedge funds and other institutional investors own 94.91% of the company’s stock.

First Advantage Stock Performance

NYSE:FA opened at $19.66 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 4.31 and a current ratio of 4.31. First Advantage Co. has a fifty-two week low of $12.46 and a fifty-two week high of $20.07. The firm has a market cap of $2.85 billion, a PE ratio of 89.00 and a beta of 1.16. The business has a 50 day moving average price of $18.60 and a 200-day moving average price of $17.01.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Truist Financial reduced their price objective on First Advantage from $250.00 to $249.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Citigroup lifted their price target on shares of First Advantage from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.25.

First Advantage 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.