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Eros International Plc (EROS): Dalton Investments Further Lowers Its Stake

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A freshly-amended 13D filing with the SEC shows that Gifford Combs Dalton Investments continues to trim its stake in Eros International Plc (NYSE:EROS). Currently, the fund’s stake consists of 1.6 million Class A Ordinary Shares of the company, which represent 4.9% of the float, down from its previous position of 1.86 million Class A Ordinary Shares, which accounted for 5.6% of the company’s outstanding stock, as per its previous 13D filing on the company.

Eros International Plc (NYSE:EROS) is a holding company which produces Indian movies, globally known under the name ‘Bollywood movies’. Year-to-date, the company’s stock is up by 78.47%. In its financial report for the first quarter of its fiscal year 2017, Eros International reported EPS of $0.03 and revenue of $71.1 million, both below the consensus estimates of analysts, which had predicted $0.11 in EPS on $72.31 million in revenue. Recently, Wells Fargo reiterated its ‘Market Perform’ rating on Eros International’s stock, with a price target of $15.

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According to Insider Monkey’s hedge fund database, seven investors that we track reported holding long positions in Eros International Plc (NYSE:EROS) as of the end of June, down from 12 at the end of March. Some of the bullish investors included David Forster and Peter Wilton’s IBIS Capital Partners, which held a $12.86 million position in the stock, Richard Driehaus’ Driehaus Capital, with a position worth $850,000, John Overdeck and David Siegel’s Two Sigma Advisors, and Neil Chriss’ Hutchin Hill Capital.

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You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Dalton Investments 1,584,483 1,584,483   1,584,483 4.8%
Rosenwald Capital Management, Inc 20,000 20,000 20,000 0.06%
James B. Rosenwald III 20,000 1,584,483 20,000 1,584,483 1,604,483 4.9%
Steven D. Persky 1,584,483   1,584,483 1,584,483 4.8%
Gifford Combs 1,584,483   1,584,483 1,584,483 4.8%
Belita Ong 1,584,483 1,584,483 1,584,483 4.8%
Arthur Hebert 1,584,483 1,584,483 1,584,483 4.8%
Erin Lavelle 1,584,483 1,584,483 1,584,483 4.8%

Gifford Combs
Gifford Combs
Dalton Investments

Page 1 of 11 – SEC Filing

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 7)*

 

 

EROS
INTERNATIONAL PLC

(Name of Issuer)

A Ordinary Shares, Par Value GBP 0.30 per Share

(Title of Class of Securities)

B86NL05

(CUSIP Number)

Arthur Hebert

Dalton Investments LLC

1601 Cloverfield Boulevard, Suite 5050 North

Santa Monica, CA 90404

(424) 231-9100

(Name,
Address and Telephone Number of Person Authorized to Receive Notices and Communications)

October 5, 2016

(Date of Event which Requires Filing of this Statement)

 

 

If the filing person has
previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following
box.  ☐

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for
other parties to whom copies are to be sent.

* The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information
which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be
deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act
(however, see the Notes).

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