Principal Financial Group Inc. Purchases New Shares in First Advantage Co. (NYSE:FA)

Principal Financial Group Inc. purchased a new stake in shares of First Advantage Co. (NYSE:FA) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 1,148,765 shares of the company’s stock, valued at approximately $22,872,000. Principal Financial Group Inc. owned approximately 0.77% of First Advantage at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. acquired a new stake in First Advantage during the 2nd quarter valued at $387,000. Teacher Retirement System of Texas acquired a new stake in First Advantage during the 2nd quarter valued at $697,000. Sei Investments Co. acquired a new position in First Advantage during the 2nd quarter worth $2,047,000. Artemis Investment Management LLP acquired a new position in First Advantage during the 2nd quarter worth $4,447,000. Finally, Peregrine Capital Management LLC acquired a new position in First Advantage during the 2nd quarter worth $10,836,000. 92.17% of the stock is owned by institutional investors and hedge funds.

Several research analysts have weighed in on the stock. Stifel Nicolaus assumed coverage on shares of First Advantage in a report on Monday, July 19th. They set a “buy” rating and a $24.00 price objective for the company. JPMorgan Chase & Co. assumed coverage on shares of First Advantage in a report on Monday, July 19th. They set an “overweight” rating and a $24.00 price objective for the company. Barclays assumed coverage on shares of First Advantage in a report on Monday, July 19th. They set an “overweight” rating and a $24.00 price objective for the company. Bank of America assumed coverage on shares of First Advantage in a report on Monday, July 19th. They set a “buy” rating and a $23.00 price objective for the company. Finally, Royal Bank of Canada raised their price objective on shares of First Advantage from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, August 13th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $24.64.

NYSE FA opened at $20.50 on Friday. First Advantage Co. has a one year low of $17.58 and a one year high of $24.73. The firm has a 50-day simple moving average of $21.48.

First Advantage (NYSE:FA) last issued its quarterly earnings data on Wednesday, August 11th. The company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.09. The firm had revenue of $174.83 million during the quarter, compared to the consensus estimate of $152.90 million. Analysts anticipate that First Advantage Co. will post 0.74 earnings per share for the current fiscal year.

About First Advantage

First Advantage Corporation provides technology solutions for screening, verifications, safety, and compliance related to human capital worldwide. The company 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 screening products.

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Institutional Ownership by Quarter for First Advantage (NYSE:FA)

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