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

StockNews.com began coverage on shares of HireRight (NYSE:HRT) in a research report report published on Friday morning. The firm issued a hold rating on the stock.

Separately, Needham & Company LLC reissued a hold rating on shares of HireRight in a report on Friday, February 16th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $12.50.

HireRight Trading Up 0.6 %

Shares of HireRight stock opened at $14.32 on Friday. HireRight has a 1-year low of $8.50 and a 1-year high of $14.38. The firm has a fifty day simple moving average of $14.10 and a 200-day simple moving average of $12.64. The stock has a market capitalization of $40.38 million, a price-to-earnings ratio of -57.28 and a beta of 0.17.

HireRight (NYSE:HRT) last announced its earnings results on Tuesday, March 12th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The company had revenue of $166.04 million for the quarter, compared to the consensus estimate of $170.35 million.

Hedge Funds Weigh In On HireRight

Several large investors have recently modified their holdings of the business. New York State Common Retirement Fund lifted its position in HireRight by 328.5% in 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 lifted its holdings in shares of HireRight by 2.8% in the third quarter. Bank of New York Mellon Corp now owns 167,841 shares of the company’s stock valued at $1,596,000 after purchasing an additional 4,548 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of HireRight by 0.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,130,394 shares of the company’s stock valued at $20,260,000 after buying an additional 6,363 shares during the last quarter. SG Americas Securities LLC bought a new stake in HireRight during the fourth quarter worth $106,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in HireRight by 57.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 33,747 shares of the company’s stock valued at $321,000 after buying an additional 12,273 shares during the last quarter. Institutional investors own 12.49% of the company’s stock.

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.