First Advantage Stock Falls 10% After Striking Deal for Sterling Check [MarketWatch]
First Advantage Corporation (FA)
Company Research
Source: MarketWatch
First Advantage stock fell 10% to $15.10 in morning trading. Shares are down about 12% so far this year. Advertisement Sterling Check stock rose about 25% to $15.50. First Advantage said Thursday it will pay about $1.2 billion in cash and 27.15 million shares of common stock to buy Sterling. Sterling shareholders will be able to elect to receive either $16.73 in cash or 0.979 shares of First Advantage common stock for each Sterling share they own. Entities affiliated with or advised by Goldman Sachs own almost 53% of Sterling Check and have agreed to support the deal. First Advantage on Thursday issued 2024 earnings and revenue guidance below Wall Street analysts' expectations. The company is targeting adjusted earnings for the year of 88 cents a share to 98 cents a share, below the $1.07 a share that analysts expected. First Advantage expects 2024 revenue to be $750 million to $800 million, below the $818.7 million that analysts expected. Write to Will Feuer at Will.Feue
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News
- Analysts Estimate First Advantage (FA) to Report a Decline in Earnings: What to Look Out for [Yahoo! Finance]Yahoo! Finance
- STOCKHOLDER INVESTIGATION: The M&A Class Action Firm Announces An Investigation of First Advantage Corporation - FAPR Newswire
- First Advantage Co. (NYSE: FA) is now covered by analysts at William Blair. They set an "outperform" rating on the stock.MarketBeat
- First Advantage Releases 2024 Global Trends Report [Yahoo! Finance]Yahoo! Finance
- First Advantage Releases 2024 Global Trends ReportGlobeNewswire
FA
Earnings
- 2/29/24 - Beat
FA
Sec Filings
- 4/29/24 - Form S-4
- 4/25/24 - Form ARS
- 4/25/24 - Form DEFA14A
- FA's page on the SEC website