Eros International Plc (EROS): Dalton Investments Continues to Trim Its Stake

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According to a freshly-amended 13D filing, Gifford Combs Dalton Investments owns 1.86 million Class A Ordinary Shares of Eros International Plc (NYSE:EROS), which account for 5.6% of the float. This indicates another decrease in the fund’s stake, as it held 2.24 million Class A Ordinary Shares, which amassed 6.8% of the company’s outstanding stock, as per its previous 13D filing on the company, dated August 8, which itself was down from 2.75 million shares held on June 30.

Eros International Plc (NYSE:EROS) is a holding company that produces Indian films, widely known as Bollywood movies. Recently, the company raised around $30 million via a private placement, which will mainly be used to upgrade its OTT platform, Eros Now. Since the beginning of the year, the company’s stock has increased by a healthy 71.37%. For the first quarter of its fiscal year 2017, Eros International disclosed earnings per share of $0.03 and revenue of $71.1 million, missing the estimates of $0.11 and $72.31 million, respectively. Earlier this month, Well Fargo reiterated its ‘Market Perform’ rating on Eros International’s stock, with a price target of $15, while Jefferies Group boosted its price target on it to $20 from $17, with a ‘Buy’ rating.

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At the end of June, seven investors within Insider Monkey’s database were long Eros International Plc (NYSE:EROS), down by five from the end of March. Among the bullish smart money managers were David Forster and Peter Wilton’s IBIS Capital Partners, which held a position worth $12.86 million, Richard Driehaus’ Driehaus Capital, with a position valued at $850,000, Neil Chriss’ Hutchin Hill Capital, and John Overdeck and David Siegel’s Two Sigma Advisors.

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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 1,821,495 9. 1,821,495 11. 1,821,495 5.5%
Rosenwald Capital Management, Inc 34,800 9. 34,800 11. 34,800 0.1%
James B. Rosenwald III 34,800 1,821,495 34,800 1,821,495 1,856,295 5.6%
Steven D. Persky 8. 1,821,495 10. 1,821,495 1,821,495 5.5%
Gifford Combs 8. 1,821,495 10. 1,821,495 1,821,495 5.5%
Belita Ong 8. 1,821,495 10. 1,821,495 1,821,495 5.5%
Arthur Hebert 8. 1,821,495 10. 1,821,495 1,821,495 5.5%
Erin Lavelle 8. 1,821,495 10. 1,821,495 1,821,495 5.5%

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Page 1 of 11 – SEC Filing



Washington, D.C. 20549




Under the Securities Exchange Act of 1934

(Amendment No. 6)*




(Name of Issuer)

A Ordinary Shares, Par Value GBP 0.30 per Share

(Title of Class of Securities)


(CUSIP Number)

Arthur Hebert

Dalton Investments LLC

1601 Cloverfield Boulevard, Suite 5050 North

Santa Monica, CA 90404

(424) 231-9100

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

September 23, 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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