HireRight Holdings Co. (NYSE:HRT) Sees Large Increase in Short Interest

HireRight Holdings Co. (NYSE:HRT) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 376,400 shares, an increase of 25.6% from the March 31st total of 299,600 shares. Based on an average daily trading volume, of 513,600 shares, the days-to-cover ratio is currently 0.7 days. Currently, 2.3% of the company’s shares are short sold.

Analyst Ratings Changes

Several research analysts have commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of HireRight in a report on Friday, February 16th. StockNews.com started coverage on shares of HireRight in a research report on Saturday. They issued a “hold” rating for the company. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $12.50.

Hedge Funds Weigh In On HireRight

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA raised its position in shares of HireRight by 0.3% in 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 purchasing an additional 6,363 shares during the period. Jennison Associates LLC raised its position in shares of HireRight by 14.0% in the third quarter. Jennison Associates LLC now owns 1,576,599 shares of the company’s stock valued at $14,993,000 after purchasing an additional 193,081 shares during the period. Park West Asset Management LLC bought a new position in shares of HireRight in the fourth quarter valued at approximately $14,668,000. Advantage Alpha Capital Partners LP raised its position in shares of HireRight by 106.2% in the third quarter. Advantage Alpha Capital Partners LP now owns 459,607 shares of the company’s stock valued at $4,371,000 after purchasing an additional 236,675 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of HireRight by 37.6% in the third 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 period. Institutional investors own 12.49% of the company’s stock.

HireRight Price Performance

HRT traded down $0.02 during midday trading on Tuesday, hitting $14.30. 86,267 shares of the company’s stock traded hands, compared to its average volume of 456,347. The company has a market cap of $40.33 million, a PE ratio of -57.28 and a beta of 0.17. The stock’s fifty day simple moving average is $14.23 and its 200-day simple moving average is $12.81. 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 data on Tuesday, March 12th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.03. The business had revenue of $166.04 million for the quarter, compared to the consensus estimate of $170.35 million.

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.