Shares of Eros International (ESGC) declined sharply on Thursday, falling as much as 28.2%. As of 12:25 p.m. EDT, however, the stock was down about 21%. The stock's decline comes after the Indian entertainment company announced it had entered a definitive agreement to raise capital as part of a direct offering with an institutional investor.
How much is ESGC stock worth?
Apr 30, 2021 · What happened Shares of Eros STX Global ( ESGC 2.25% ) are falling today, down by 5.3% as of 12:30 p.m. EDT, after the streaming media producer and marketer announced it wasn't going to be filing a...
Will ESGC outperform the S&P 500?
Nov 16, 2021 · What happened Eros STX Global Corporation ( ESGC -3.60% ) dove today, dropping 28% by 11:00 a.m. EST as the wider market edged higher. The entertainment company announced plans to sell off its...
Why did Eros STX stock fall on Friday?
Apr 13, 2022 · Eros STX Global Corporation produces, markets, and distributes content to audiences around the world across traditional and digital media platforms. The company produces and distributes films, scripted and unscripted TV programming, and digital content across a variety of platforms. It also offers Eros Now, a subscription based OTT platform.
What's happening with Eros International stock?
Apr 08, 2022 · This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.17 between high and low, or 6.23%. For the last week the stock has had a daily average volatility of 8.30%. Eros STX Global Corporation is oversold on RSI14 (20). Some stocks may drop long and …
Will ESGC stock go up?
and has now fallen 3 days in a row. During the day the stock fluctuated 12.66% from a day low at $2.29 to a day high of $2.58....Predicted Opening Price for Eros STX Global Corporation of Tuesday, April 19, 2022.Fair opening price April 19, 2022Current price$2.39$2.31 (Undervalued)
Is Eros stock a buy?
Is Eros International PLC stock A Buy? Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Eros International PLC stock to perform well in the short-term.
What happened to Eros STX Global?
Eros STX Global (NYSE:ESGC) has announced that its Board of Directors has approved a one-for-twenty reverse split of its issued and outstanding A and B ordinary shares. The Reverse Stock Split will become effective as of 5:00 p.m. ET on Feb.Jan 28, 2022
Why did Erosmedia share price fall?
The stock has been falling since 4 June 2019. On 5 June, 2019, rating firm CARE downgraded its creditworthiness to “default” levels, citing delays in debt servicing and cash flow issues. So far, it has lost 74 per cent of its market capitalisation.Jul 1, 2019
Why is Eros STX falling?
Eros STX Global Corporation ( ESGC -4.83% ) dove today, dropping 28% by 11:00 a.m. EST as the wider market edged higher. The entertainment company announced plans to sell off its subsidiary and to extend the maturity date of some of its debt.Nov 16, 2021
Has Google split their stock?
When Is Google Stock Splitting? Alphabet (NASDAQ:GOOG)(NASDAQ:GOOGL) recently announced a 20:1 stock split that will take place in July 2022. Shareholders of record will receive 19 additional shares for each share held after market close on Friday, July 15th.Apr 4, 2022
Who owns Eros STX?
The company is led by co-chairmen Kishore Lulla (son of Eros founder Arjan Lulla) and Robert Simonds, STX chairman and CEO.
Are investors shorting Eros STX Global?
Eros STX Global saw a increase in short interest in the month of February. As of February 28th, there was short interest totaling 867,300 shares, a...
When did Eros STX Global's stock split? How did Eros STX Global's stock split work?
Shares of Eros STX Global reverse split before market open on Tuesday, February 8th 2022. The 1-20 reverse split was announced on Tuesday, February...
Who are Eros STX Global's key executives?
Eros STX Global's management team includes the following people: Robert B. Simonds , Co-Chairman & Chief Executive Officer Rishika Lulla Singh ,...
Who are some of Eros STX Global's key competitors?
Some companies that are related to Eros STX Global include Dogness (International) (DOGZ) , Rockford (ROFO) , Gaia (GAIA) , Kuke Music (KUKE) ,...
What other stocks do shareholders of Eros STX Global own?
Based on aggregate information from My MarketBeat watchlists, some companies that other Eros STX Global investors own include BlackLine (BL) , Bi...
What is Eros STX Global's stock symbol?
Eros STX Global trades on the New York Stock Exchange (NYSE) under the ticker symbol "ESGC."
Who are Eros STX Global's major shareholders?
Eros STX Global's stock is owned by many different institutional and retail investors. Top institutional investors include BlackRock Inc. (254.42%)...
Which major investors are selling Eros STX Global stock?
ESGC stock was sold by a variety of institutional investors in the last quarter, including BlackRock Inc., Sanders Morris Harris LLC, Nuveen Asset...
Which major investors are buying Eros STX Global stock?
ESGC stock was purchased by a variety of institutional investors in the last quarter, including GSA Capital Partners LLP, Renaissance Technologies...
A major asset sale raises new questions about debt and growth
Demitri covers consumer goods and media companies for Fool.com, as well as broader moves in the economy. Follow @tmfsigma
What happened
Eros STX Global Corporation ( NYSE:ESGC) dove today, dropping 28% by 11:00 a.m. EST as the wider market edged higher. The entertainment company announced plans to sell off its subsidiary and to extend the maturity date of some of its debt.
So what
Eros STX, a producer of TV and film content, said on Tuesday morning that it is in negotiations with another company for the sale of its subsidiary STX Entertainment, the company it merged with in mid-2020.
Now what
The news clouds the growth picture for investors now that a large portion of the business is expected to be sold for an unspecified price. Eros STX has been busy taking on debt since it made the acquisition last year, and investors are still waiting for fully audited financial results for the fiscal 2020 year.
About Eros STX Global
Eros STX Global Corp. operates as a content and distribution company. It develops, produces, and distributes Bollywood and Hollywood premium content. The company is headquartered in Burbank, CA.
Eros STX Global (NYSE:ESGC) Frequently Asked Questions
Eros STX Global saw a decrease in short interest in the month of January. As of January 31st, there was short interest totaling 293,600 shares, a decrease of 93.7% from the January 15th total of 4,660,000 shares.
Signals & Forecast
The Eros STX Global Corporation stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock.
Support, Risk & Stop-loss
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
Is Eros STX Global Corporation stock A Buy?
Eros STX Global Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Golden Star Signal
This unique signal uses moving averages and adds special requirements that convert the very good Golden Cross into a Golden Star. This signal is rare and, in most cases, gives substantial returns. From 10 000+ stocks usually only a few will trigger a Golden Star Signal per day!
Top Fintech Company
featured in The Global Fintech Index 2020 as the top Fintech company of the country.
Short-term traders are likely moving on, now that the merger is complete
After spending more than a decade travelling the world exploring different cultures and languages, I'm happy to now be contributing to the Motley Fool's mission to make the world smarter, happier, and richer. What's great about exploring business and the economy is the insight it gives you into how things are in the world.
What happened
Shares of Eros STX ( NYSE:ESGC) were falling on Friday after the company reported its full-year results for fiscal 2020. Eros STX was formerly called Eros International, but its named changed after completing its merger with STX Entertainment last night.
So what
The results in today's report pertain to Eros International. Eros International generated $155 million in fiscal 2020, down 42% year over year. That's surprising, because the company highlighted its paying subscriber growth of 56%. The explanation for this disparity is the company's focus on its streaming video on demand service Eros Now.
Now what
It's worth mentioning that Eros International is an international stock and its financial reporting is a little behind what you'd expect. The company just released results for fiscal 2020, which ended March 31. Therefore, these financial results don't reflect any growth, or lack thereof, since the coronavirus pandemic. Invest accordingly.
What happened
Shares of Eros International ( ESGC ) declined sharply on Thursday, falling as much as 28.2%. As of 12:25 p.m. EDT, however, the stock was down about 21%.
So what
Under the agreement, Eros will generate $25 million in gross proceeds from a direct offering of $27.5 million worth of senior convertible notes due in 2020 with an institutional investor.
NYSE: ESGC
"The Company intends to use the net proceeds for general corporate purposes," Eros said in a press release about the offering.
Now what
The offering is expected to close around Sept. 30, 2019, and is subject to "customary closing conditions," the company said.
Premium Investing Services
Invest better with the Motley Fool. Get stock recommendations, portfolio guidance, and more from the Motley Fool's premium services.
