HireRight (NYSE:HRT) Posts Earnings Results, Beats Expectations By $0.05 EPS

HireRight (NYSE:HRT) posted its quarterly earnings results on Tuesday. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.05, reports. The firm had revenue of $173.20 million for the quarter, compared to the consensus estimate of $170.20 million.

HireRight Trading Up 0.1 %

HRT stock traded up $0.01 during midday trading on Friday, hitting $14.32. The stock had a trading volume of 12,490 shares, compared to its average volume of 428,433. HireRight has a 52 week low of $8.69 and a 52 week high of $14.39. The firm has a market capitalization of $40.38 million, a price-to-earnings ratio of -57.24 and a beta of 0.17. The stock has a 50-day simple moving average of $14.26 and a 200 day simple moving average of $13.00.

Hedge Funds Weigh In On HireRight

Several institutional investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its holdings 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 worth $20,260,000 after purchasing an additional 6,363 shares during the period. Jennison Associates LLC grew its position in shares of HireRight by 14.0% during the 3rd quarter. Jennison Associates LLC now owns 1,576,599 shares of the company’s stock valued at $14,993,000 after acquiring an additional 193,081 shares during the period. Park West Asset Management LLC purchased a new position in shares of HireRight in the fourth quarter valued at $14,668,000. Advantage Alpha Capital Partners LP boosted its position in shares of HireRight by 106.2% during the 3rd quarter. Advantage Alpha Capital Partners LP now owns 459,607 shares of the company’s stock valued at $4,371,000 after acquiring an additional 236,675 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of HireRight by 37.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 345,620 shares of the company’s stock valued at $3,287,000 after purchasing an additional 94,531 shares during the last quarter. 12.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HRT. StockNews.com began coverage on HireRight in a research note on Sunday, May 5th. They issued a “hold” rating on the stock. Needham & Company LLC reissued a “hold” rating on shares of HireRight in a research report on Friday, February 16th. Finally, William Blair upgraded shares of HireRight from a “market perform” rating to an “outperform” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, HireRight has a consensus rating of “Hold” and an average target price of $12.50.

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.