Dominari (NASDAQ:DOMH) to Repurchase $5.00 million in Stock

Dominari (NASDAQ:DOMH) declared that its board has authorized a stock buyback plan on Thursday, September 17th, RTT News reports. The company plans to buyback $5.00 million in shares. This buyback authorization authorizes the company to reacquire up to 9.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

DOMH has been the topic of several recent analyst reports. Wall Street Zen cut Dominari from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Dominari in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Dominari Trading Up 1.6%

NASDAQ:DOMH traded up $0.04 during mid-day trading on Tuesday, reaching $2.57. The company’s stock had a trading volume of 502,017 shares, compared to its average volume of 163,319. The firm’s fifty day moving average price is $2.50 and its two-hundred day moving average price is $2.89. Dominari has a 12-month low of $1.91 and a 12-month high of $8.40. The stock has a market cap of $62.30 million, a P/E ratio of -0.48 and a beta of 0.87.

Dominari (NASDAQ:DOMH) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.13. The firm had revenue of $16.79 million during the quarter, compared to analyst estimates of $16.79 million. Dominari had a negative net margin of 51.61% and a negative return on equity of 235.37%.

Insider Activity at Dominari

In related news, CEO Anthony Hayes purchased 50,000 shares of Dominari stock in a transaction on Thursday, September 10th. The shares were bought at an average cost of $2.02 per share, for a total transaction of $101,000.00. Following the acquisition, the chief executive officer owned 4,550,873 shares in the company, valued at approximately $9,192,763.46. The trade was a 1.11% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Kyle Wool purchased 50,000 shares of Dominari stock in a transaction that occurred on Thursday, September 10th. The stock was acquired at an average price of $2.02 per share, for a total transaction of $101,000.00. Following the transaction, the president directly owned 4,261,828 shares of the company’s stock, valued at $8,608,892.56. The trade was a 1.19% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 55.30% of the company’s stock.

About Dominari

Dominari Holdings Inc is a diversified holding company that operates primarily through subsidiaries focused on financial services and investment activities. The company’s business includes securities brokerage, investment banking, wealth management and related capital-markets services.

Its principal operating platform, Dominari Securities LLC, is a U.S. broker-dealer that provides services to institutional and individual clients, including securities transactions, investment research, corporate finance and advisory support.