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

First Advantage Co. (NYSE:FA) shares gapped down prior to trading 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 trading hands.

Wall Street Analysts Forecast Growth

FA has been the subject of several research analyst reports. William Blair reiterated an “outperform” rating on shares of First Advantage in a research report on Friday. Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 price objective on shares of First Advantage in a research report on Thursday, January 23rd. BMO Capital Markets initiated coverage on First Advantage in a research report on Wednesday, December 11th. They issued an “outperform” rating and a $20.00 price objective for the company. Barclays reiterated an “overweight” rating and issued a $22.00 price objective on shares of First Advantage in a research report on Wednesday, November 20th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of First Advantage in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.29.

First Advantage Trading Down 8.0 %

The company has a market cap of $2.58 billion, a P/E ratio of 498.67 and a beta of 1.17. 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 business has a 50-day moving average price of $18.55 and a two-hundred day moving average price of $18.85.

Institutional Investors Weigh In On First Advantage

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Summit Investment Advisors Inc. increased its holdings in First Advantage by 15.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,267 shares of the company’s stock valued at $117,000 after purchasing an additional 832 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in First Advantage in the fourth quarter valued at about $132,000. Two Sigma Securities LLC bought a new stake in First Advantage in the fourth quarter valued at about $188,000. Tower Research Capital LLC TRC grew its stake in First Advantage by 1,219.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,555 shares of the company’s stock valued at $198,000 after acquiring an additional 9,755 shares during the period. Finally, Pictet Asset Management Holding SA acquired a new position in First Advantage in the fourth quarter valued at about $210,000. Institutional investors own 94.91% of the company’s stock.

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.