Dominari (NASDAQ:DOMH) Approves Share Buyback Plan

Dominari (NASDAQ:DOMH) announced that its Board of Directors has approved a stock buyback program on Thursday, September 17th, RTT News reports. The company plans to repurchase $5,000.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 9,593,246.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on DOMH shares. Wall Street Zen downgraded 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 report on Monday, July 6th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Dominari presently has an average rating of “Sell”.

Dominari Stock Up 0.4%

DOMH stock opened at $2.45 on Friday. The business has a 50 day moving average of $2.51 and a 200 day moving average of $2.89. The firm has a market cap of $59.39 million, a PE ratio of -0.45 and a beta of 0.87. Dominari has a twelve month low of $1.91 and a twelve month high of $8.40.

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

Insider Buying and Selling at Dominari

In other Dominari news, CEO Anthony Hayes purchased 50,000 shares of the business’s stock in a transaction 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 purchase, the chief executive officer owned 4,550,873 shares of the company’s stock, valued at approximately $9,192,763.46. This represents a 1.11% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Kyle Michael Wool purchased 50,000 shares of the business’s stock in a transaction on Thursday, September 10th. The stock was acquired at an average price of $2.02 per share, with a total value of $101,000.00. Following the purchase, the president directly owned 4,261,828 shares in the company, valued at $8,608,892.56. This represents a 1.19% increase in their position. The SEC filing for this purchase provides additional information. 55.30% of the stock is owned by company insiders.

Dominari Company Profile

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.