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Eros International Plc (EROS): Dalton Investments Trims Its Stake

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Gifford Combs Dalton Investments recently filed a Form 13D with the US Securities and Exchange Commission, in which reports holding 2.24 million A Ordinary shares of Eros International Plc (NYSE:EROS), which account for 6.8% of the company’s total outstanding stock. This represents a decrease in the stake, as Dalton Investments previously held 2.64 million A Ordinary shares, which amassed 8.0% of the total outstanding stock.

Eros International is a holding company that co-produces and distributes Indian language movies. Year-to-date, the company’s stock is up by 97.92%. In its latest financial report for the fourth quarter of fiscal 2016, the company reported a loss per share of $0.4 and revenue of $65.1 million, beating the estimates of revenue of $54.4 million.

Entertainment Press / Shutterstock.com

Entertainment Press / Shutterstock.com

The number of investors long Eros International Plc (NYSE:EROS) trimmed by seven during the first quarter, and, at the end of March, there were 12 funds bullish on the stock, according to Insider Monkey’s database. Dalton Investment held the most valuable position, and the second largest stake was disclosed by David Forster and Peter Wilton’s  IBIS Capital Partners, valued at $9.1 million. Some other smart money managers with similar optimism included Prem Watsa’s Fairfax Financial Holdings, Richard Driehaus’s Driehaus Capital, and Neil Chriss’s Hutchin Hill Capital.

Among investors who lost interest in Eros International Plc (NYSE:EROS) and decided to sell their positions were Solomon Kumin’s Folger Hill Asset Management, which dropped the biggest position worth around $6.5 million in stock, and John Burbank’s Passport Capital, which dumped about $5.1 million worth.

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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 2,173,828 9. 2,173,828 11. 2,173,828 6.6%
Rosenwald Capital Management, Inc 65,000 9. 65,000 11. 65,000 0.2%
James B. Rosenwald III 65,000 2,173,828 65,000 2,173,828 2,238,828 6.8%
Steven D. Persky 8. 2,173,828 10. 2,173,828 2,173,828 6.6%
Gifford Combs 8. 2,173,828 10. 2,173,828 2,173,828 6.6%
Belita Ong 8. 2,173,828 10. 2,173,828 2,173,828 6.6%
Arthur Hebert 8. 2,173,828 10. 2,173,828 2,173,828 6.6%
Erin Lavelle 8. 2,173,828 10. 2,173,828 2,173,828 6.6%

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. 5)*

 

 

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)

August 8, 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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