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

Eros International plc (NYSE:EROS) was the recipient of a significant increase in short interest in October. As of October 15th, there was short interest totalling 10,720,000 shares, an increase of 29.3% from the September 15th total of 8,290,000 shares. Approximately 23.3% of the company’s stock are short sold. Based on an average trading volume of 4,530,000 shares, the days-to-cover ratio is presently 2.4 days.

Separately, ValuEngine upgraded shares of Eros International from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd.

NYSE:EROS traded up $0.23 during midday trading on Monday, hitting $2.12. The company’s stock had a trading volume of 4,163,748 shares, compared to its average volume of 2,309,994. Eros International has a fifty-two week low of $1.14 and a fifty-two week high of $11.18. The firm’s 50 day moving average is $2.01 and its 200-day moving average is $3.65. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $208.17 million, a P/E ratio of 9.10 and a beta of -0.11.

A number of large investors have recently modified their holdings of EROS. Shah Capital Management acquired a new position in Eros International in the 2nd quarter worth approximately $3,240,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Eros International in the 2nd quarter worth approximately $124,000. US Bancorp DE acquired a new position in Eros International in the 2nd quarter worth approximately $80,000. Marshall Wace LLP acquired a new position in Eros International in the 1st quarter worth approximately $446,000. Finally, Rhumbline Advisers increased its holdings in Eros International by 77.9% in the 3rd quarter. Rhumbline Advisers now owns 87,289 shares of the company’s stock worth $167,000 after buying an additional 38,216 shares during the period. Institutional investors own 36.41% 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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