Victory Capital Management Inc. Sells 9,350 Shares of First Advantage Co. (NYSE:FA)

Posted by Defense World Staff on Nov 5th, 2023

Victory Capital Management Inc. decreased its holdings in First Advantage Co. (NYSE:FA – Free Report) by 31.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,970 shares of the company’s stock after selling 9,350 shares during the period. Victory Capital Management Inc.’s holdings in First Advantage were worth $308,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in FA. Herald Investment Management Ltd bought a new position in First Advantage during the second quarter valued at approximately $2,697,000. Leith Wheeler Investment Counsel Ltd. bought a new position in First Advantage during the second quarter valued at approximately $4,524,000. Brandywine Global Investment Management LLC bought a new position in First Advantage during the first quarter valued at approximately $5,533,000. Royce & Associates LP bought a new position in First Advantage during the first quarter valued at approximately $2,334,000. Finally, JPMorgan Chase & Co. boosted its stake in First Advantage by 7.9% during the first quarter. JPMorgan Chase & Co. now owns 6,440,812 shares of the company’s stock valued at $89,913,000 after buying an additional 472,818 shares during the last quarter. Institutional investors own 94.91% of the company’s stock.

First Advantage Trading Up 0.5 %

Shares of NYSE FA opened at $13.32 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 6.35 and a current ratio of 6.35. The business’s 50 day moving average price is $13.76 and its 200-day moving average price is $13.99. First Advantage Co. has a fifty-two week low of $10.07 and a fifty-two week high of $15.89. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 41.63, a PEG ratio of 1.55 and a beta of 1.17.

First Advantage (NYSE:FA – Get Free Report) last issued its quarterly earnings results on Wednesday, August 9th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. First Advantage had a return on equity of 12.88% and a net margin of 6.29%. The firm had revenue of $185.30 million for the quarter, compared to the consensus estimate of $182.38 million. During the same period in the prior year, the business posted $0.25 earnings per share. The company’s revenue for the quarter was down 8.1% on a year-over-year basis. On average, sell-side analysts expect that First Advantage Co. will post 0.96 earnings per share for the current year.

First Advantage Announces Dividend

The company also recently disclosed a dividend, which was paid on Thursday, August 31st. Investors of record on Monday, August 21st were paid a $1.50 dividend. The ex-dividend date of this dividend was Friday, August 18th.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FA. Barclays upped their price objective on First Advantage from $14.00 to $16.00 and gave the company an “equal weight” rating in a research report on Thursday, August 10th. Wolfe Research began coverage on First Advantage in a research report on Wednesday, September 13th. They set an “outperform” rating and a $17.00 price objective on the stock. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $15.60.

View Our Latest Research Report on FA

Insider Buying and Selling

In related news, Director Lake Group L.L.C. Silver sold 169,510 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $14.29, for a total value of $2,422,297.90. Following the transaction, the director now owns 153,329 shares of the company’s stock, valued at $2,191,071.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other First Advantage news, insider Bret T. Jardine sold 12,000 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $15.20, for a total transaction of $182,400.00. Following the sale, the insider now owns 4,537 shares of the company’s stock, valued at approximately $68,962.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lake Group L.L.C. Silver sold 169,510 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $14.29, for a total value of $2,422,297.90. Following the sale, the director now directly owns 153,329 shares in the company, valued at approximately $2,191,071.41. The disclosure for this sale can be found here. Insiders have sold a total of 191,510 shares of company stock valued at $2,748,598 over the last quarter. 4.70% of the stock is owned by corporate insiders.

About First Advantage

(Free Report)

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