Dominari (NASDAQ:DOMH) to Repurchase $5,000.00 billion in Outstanding Shares

Key Points

• Dominari authorized a share-repurchase program reportedly totaling $5,000 billion, allowing open-market purchases of up to 9,593,246.3% of outstanding shares—figures that appear anomalous as reported.
• Analyst sentiment remains negative: Dominari has an average “Sell” rating, while its shares recently traded at $2.44, well below the 12-month high of $8.40.
• The company reported a quarterly loss of $0.21 per share, outperforming estimates for a $0.34 loss, while CEO Anthony Hayes and President Kyle Michael Wool each purchased 50,000 shares; insiders own 55.3% of the stock.

Dominari (NASDAQ:DOMH - Get Free Report) declared that its Board of Directors has authorized a share repurchase program on Thursday, September 17th, RTT News reports. The company plans to repurchase $5,000.00 billion in shares. This repurchase authorization permits the company to buy up to 9,593,246.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DOMH. Weiss Ratings restated a "sell (d-)" rating on shares of Dominari in a research report on Monday, July 6th. Wall Street Zen lowered shares of Dominari from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Dominari currently has an average rating of "Sell".

Dominari Stock Performance

Shares of DOMH stock traded up $0.29 during trading hours on Thursday, reaching $2.44. The company had a trading volume of 540,477 shares, compared to its average volume of 148,854. Dominari has a 12-month low of $1.91 and a 12-month high of $8.40. The company has a market capitalization of $59.15 million, a price-to-earnings ratio of -0.45 and a beta of 0.87. The stock has a fifty day moving average of $2.51 and a 200-day moving average of $2.90.

Dominari (NASDAQ:DOMH - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.21) earnings per share for the quarter, topping analysts' consensus estimates of ($0.34) by $0.13. Dominari had a negative return on equity of 235.37% and a negative net margin of 51.61%.The company had revenue of $16.79 million for the quarter, compared to analyst estimates of $16.79 million.

Insider Activity

In other Dominari news, President Kyle Michael Wool acquired 50,000 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was bought at an average cost of $2.02 per share, for a total transaction of $101,000.00. Following the completion of the transaction, the president owned 4,261,828 shares of the company's stock, valued at approximately $8,608,892.56. The trade was a 1.19% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Anthony Hayes bought 50,000 shares of the business's stock in a transaction on Thursday, September 10th. The shares were acquired at an average cost of $2.02 per share, with a total value of $101,000.00. Following the purchase, the chief executive officer owned 4,550,873 shares of the company's stock, valued at $9,192,763.46. The trade was a 1.11% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 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.

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