Eros International plc (NYSE:EROS) Sees Large Decline in Short Interest

Eros International plc (NYSE:EROS) was the target of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 6,698,300 shares, a decrease of 14.8% from the June 30th total of 7,861,400 shares. Based on an average trading volume of 2,730,000 shares, the days-to-cover ratio is presently 2.5 days. Approximately 13.1% of the shares of the stock are sold short.

Several large investors have recently bought and sold shares of EROS. Shah Capital Management purchased a new position in Eros International in the second quarter worth approximately $3,240,000. Geode Capital Management LLC grew its position in Eros International by 16.3% in the fourth quarter. Geode Capital Management LLC now owns 124,861 shares of the company’s stock worth $1,035,000 after acquiring an additional 17,487 shares during the period. Bank of New York Mellon Corp grew its position in Eros International by 6.6% in the fourth quarter. Bank of New York Mellon Corp now owns 105,578 shares of the company’s stock worth $875,000 after acquiring an additional 6,569 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Eros International in the second quarter worth approximately $124,000. Finally, US Bancorp DE purchased a new position in Eros International in the second quarter worth approximately $80,000. 52.93% of the stock is owned by hedge funds and other institutional investors.

Separately, Citigroup reduced their target price on Eros International from $13.00 to $6.50 and set a “buy” rating for the company in a report on Tuesday, June 11th.



Shares of Eros International stock traded down $0.03 during mid-day trading on Thursday, reaching $1.27. 3,294,983 shares of the stock traded hands, compared to its average volume of 1,380,898. The business has a 50-day moving average of $1.56 and a 200 day moving average of $6.45. Eros International has a fifty-two week low of $1.21 and a fifty-two week high of $13.45. The stock has a market capitalization of $94.62 million, a PE ratio of 6.57 and a beta of -0.03. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.08.

Eros International (NYSE:EROS) last announced its earnings results on Monday, July 15th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.24). Eros International had a negative net margin of 156.91% and a positive return on equity of 1.35%. The firm had revenue of $69.75 million for the quarter.

Eros International Company Profile

Eros International Plc, together with its subsidiaries, co-produces, acquires, and distributes Indian films in various formats worldwide. The company distributes its film content through various distribution channels, including theatrical, which includes multiplex chains and stand-alone theaters; television syndication that comprises satellite television broadcasting, cable television, and terrestrial television; and digital and ancillary, such as Internet protocol television, video on demand, music, inflight entertainment, home video, and Internet channels, as well as Eros Now online entertainment service.

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