Is Eros International plc (EROS) Worthy of Your Portfolio?

As industrywide interest jumped, key money managers were breaking ground themselves. Columbus Circle Investors assembled the most outsized position in Eros International plc (NYSE:EROS). Columbus Circle Investors had $0.7 million invested in the company at the end of the quarter. Citadel Investment Group also made a $0.4 million investment in the stock during the quarter.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Eros International plc (NYSE:EROS) but similarly valued. These stocks are Noble Midstream Partners LP (NYSE:NBLX), Heartland Financial USA Inc (NASDAQ:HTLF), Universal Insurance Holdings, Inc. (NYSEAMEX:UVE), and Archrock Partners LP (NASDAQ:APLP). This group of stocks’ market values resemble EROS’s market value.

As you can see these stocks had an average of eight funds with bullish positions and the average amount invested in these stocks was $26 million. That figure was $41 million in EROS’s case. Universal Insurance Holdings, Inc. (NYSEAMEX:UVE) is the most popular stock in this table. On the other hand Noble Midstream Partners LP (NYSE:NBLX) is the least popular one with only four bullish hedge fund positions. Eros International plc (NYSE:EROS) is not the least popular stock in this group but hedge fund interest is close to average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard UVE might be a better candidate to consider taking a long position in.

Disclosure: none