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

StockNews.com initiated coverage on shares of HireRight (NYSE:HRT) in a research note published on Tuesday morning. The brokerage issued a hold rating on the stock.

HRT has been the subject of several other reports. Needham & Company LLC reaffirmed a hold rating on shares of HireRight in a research note on Friday, February 16th. William Blair upgraded HireRight from a market perform rating to an outperform rating in a research report on Wednesday, May 8th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $13.00.

HireRight Stock Performance

Shares of NYSE HRT opened at $14.34 on Tuesday. HireRight has a 1 year low of $8.69 and a 1 year high of $14.39. The company’s fifty day moving average price is $14.29 and its 200 day moving average price is $13.35. The company has a market capitalization of $40.42 million, a PE ratio of -57.32 and a beta of 0.17.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HRT. Virtu Financial LLC boosted its stake in shares of HireRight by 20.5% in the 1st quarter. Virtu Financial LLC now owns 12,190 shares of the company’s stock valued at $174,000 after buying an additional 2,072 shares during the period. Beryl Capital Management LLC acquired a new position in shares of HireRight during the first quarter worth $1,123,000. Aristides Capital LLC purchased a new position in HireRight in the first quarter valued at $282,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in HireRight in the first quarter valued at $5,682,000. Finally, Gabelli Funds LLC purchased a new stake in HireRight during the 1st quarter worth about $9,926,000. 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.