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

StockNews.com initiated coverage on shares of HireRight (NYSE:HRT) in a research note issued to investors on Saturday. The brokerage set a “hold” rating on the stock.

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

HireRight Stock Performance

Shares of NYSE HRT opened at $14.29 on Friday. The firm has a market cap of $40.30 million, a PE ratio of -57.16 and a beta of 0.17. The firm has a fifty day moving average of $14.23 and a 200 day moving average of $12.75. HireRight has a one year low of $8.50 and a one year high of $14.38.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of HRT. New York State Common Retirement Fund lifted its position in shares of 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 in the last quarter. SG Americas Securities LLC acquired a new stake in shares of HireRight during the fourth quarter worth about $106,000. Dark Forest Capital Management LP acquired a new stake in shares of HireRight during the third quarter worth about $118,000. Keybank National Association OH acquired a new stake in shares of HireRight during the third quarter worth about $121,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of HireRight during the fourth quarter worth about $174,000. Institutional investors and hedge funds 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.