Short Interest in Eros International plc (NYSE:EROS) Declines By 14.8%

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

Eros International stock traded down $0.03 during mid-day trading on Thursday, hitting $1.27. The stock had a trading volume of 3,294,983 shares, compared to its average volume of 1,380,898. The firm’s 50-day moving average is $1.57. The firm has a market cap of $94.62 million, a PE ratio of 6.57 and a beta of -0.03. Eros International has a 12 month low of $1.21 and a 12 month high of $13.45. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.24 and a quick ratio of 1.24.

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

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

A number of institutional investors and hedge funds have recently modified their holdings of EROS. Bank of New York Mellon Corp boosted its holdings in Eros International by 6.6% during the fourth quarter. Bank of New York Mellon Corp now owns 105,578 shares of the company’s stock worth $875,000 after buying an additional 6,569 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Eros International by 16.3% during the fourth quarter. Geode Capital Management LLC now owns 124,861 shares of the company’s stock worth $1,035,000 after buying an additional 17,487 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Eros International by 980.8% during the first quarter. BNP Paribas Arbitrage SA now owns 7,144 shares of the company’s stock worth $65,000 after buying an additional 6,483 shares during the last quarter. Marshall Wace LLP bought a new position in Eros International during the first quarter worth about $446,000. Finally, SG Americas Securities LLC bought a new position in Eros International during the second quarter worth about $34,000. Hedge funds and other institutional investors own 52.93% of the company’s stock.

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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