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.
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.
Recommended Story: How much money do you need to begin day trading?
Receive News & Ratings for Eros International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eros International and related companies with MarketBeat.com's FREE daily email newsletter.