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

Equities researchers at StockNews.com began coverage on shares of HireRight (NYSE:HRT) in a note issued to investors on Monday. The brokerage set a “hold” rating on the stock.

Separately, William Blair upgraded shares of HireRight from a “market perform” rating to an “outperform” rating in a report on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $13.00.

HireRight Price Performance

HRT opened at $14.36 on Monday. The stock has a market cap of $40.50 million, a P/E ratio of -57.44 and a beta of 0.17. HireRight has a 12 month low of $8.69 and a 12 month high of $14.39. The company has a fifty day simple moving average of $14.34 and a 200 day simple moving average of $13.88.

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

Hedge Funds Weigh In On HireRight

Hedge funds have recently made changes to their positions in the business. New York State Common Retirement Fund boosted its holdings in HireRight by 328.5% during the fourth quarter. New York State Common Retirement Fund now owns 5,125 shares of the company’s stock worth $69,000 after purchasing an additional 3,929 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of HireRight during the 4th quarter worth about $106,000. FNY Investment Advisers LLC bought a new position in shares of HireRight in the 4th quarter valued at about $174,000. Virtu Financial LLC increased its position 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 during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in HireRight during the third quarter worth about $222,000. 12.49% of the stock is owned by institutional investors.

HireRight Company Profile

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.