StockNews.com Initiates Coverage on HireRight (NYSE:HRT)

StockNews.com assumed coverage on shares of HireRight (NYSE:HRT) in a report released on Tuesday. The brokerage set a “hold” rating on the stock.

Several other research firms also recently weighed in on HRT. Needham & Company LLC reissued a “hold” rating on shares of HireRight in a research report on Friday, February 16th. William Blair upgraded shares of HireRight from a “market perform” rating to an “outperform” rating in a research report on Wednesday, May 8th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, HireRight currently has a consensus rating of “Hold” and an average target price of $13.00.

HireRight Price Performance

HireRight stock opened at $14.35 on Tuesday. HireRight has a 52-week low of $8.69 and a 52-week high of $14.39. The firm’s fifty day moving average is $14.29 and its 200 day moving average is $13.34. The company has a market cap of $40.45 million, a price-to-earnings ratio of -57.38 and a beta of 0.17.

HireRight (NYSE:HRT) last announced its earnings results on Tuesday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.05. The business had revenue of $173.20 million for the quarter, compared to analysts’ expectations of $170.20 million.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC raised its holdings in shares of HireRight by 20.5% in the first quarter. Virtu Financial LLC now owns 12,190 shares of the company’s stock valued at $174,000 after acquiring an additional 2,072 shares in the last quarter. New York State Common Retirement Fund boosted its position in HireRight by 328.5% during the 4th quarter. New York State Common Retirement Fund now owns 5,125 shares of the company’s stock valued at $69,000 after acquiring an additional 3,929 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of HireRight by 2.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 167,841 shares of the company’s stock valued at $1,596,000 after acquiring an additional 4,548 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of HireRight by 0.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,130,394 shares of the company’s stock worth $20,260,000 after acquiring an additional 6,363 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of HireRight during the 4th quarter worth $106,000. 12.49% of the stock is currently owned by institutional investors.

About HireRight

HireRight Holdings Corporation provides technology-driven workforce risk management and compliance solutions worldwide. It offers background screening, verification, identification, monitoring, and drug and health screening services for customers under the HireRight brand name. The company provides its services through software and data platform that integrates into its customers' human capital management systems enabling workflows for workforce hiring, onboarding, and monitoring.