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

HireRight Holdings Co. (NYSE:HRT) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 376,400 shares, a growth of 25.6% from the March 31st total of 299,600 shares. Approximately 2.3% of the shares of the stock are sold short. Based on an average daily volume of 513,600 shares, the short-interest ratio is presently 0.7 days.

HireRight Stock Performance

HireRight stock traded down $0.02 during trading on Tuesday, reaching $14.30. The company had a trading volume of 86,267 shares, compared to its average volume of 456,347. HireRight has a 12-month low of $8.50 and a 12-month high of $14.38. The stock’s 50 day moving average price is $14.23 and its two-hundred day moving average price is $12.81. The firm has a market capitalization of $40.33 million, a price-to-earnings ratio of -57.28 and a beta of 0.17.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA lifted 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 worth $20,260,000 after purchasing an additional 6,363 shares in the last quarter. Jennison Associates LLC lifted its position in shares of HireRight by 14.0% during the third quarter. Jennison Associates LLC now owns 1,576,599 shares of the company’s stock worth $14,993,000 after purchasing an additional 193,081 shares in the last quarter. Park West Asset Management LLC acquired a new position in shares of HireRight during the fourth quarter worth $14,668,000. Advantage Alpha Capital Partners LP increased its stake 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 worth $4,371,000 after buying an additional 236,675 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake 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 worth $3,287,000 after buying an additional 94,531 shares during the last quarter. 12.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on HRT shares. StockNews.com started coverage on shares of HireRight in a research note on Saturday. They issued a “hold” rating for the company. Needham & Company LLC reiterated a “hold” rating on shares of HireRight in a research note 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, HireRight presently has an average rating of “Hold” and a consensus 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.