Merlin Entertainments (MERL) – Rollercoaster for shareholders may have opened a value opportunity

Merlin Entertainments (MERL) – Rollercoaster for shareholders may have opened a value opportunity

Shares in Merlin Entertainments took another tumble this week, dropping 8% after a disappointing trading update (latest share price 340.7p, market cap £3,482 million).

It has been a tough few years for shareholders. The share price reached a high c. 540p in 2017 but has fallen sharply since then in response to terror attacks, “unprecedented levels of demand volatility”, and downgrades to the company’s long-term growth expectations.

It makes for an unpleasant backdrop but it’s often in grim situations such as this that a value opportunity can arise. Let’s not forget that Merlin is still the second-biggest attractions group in the world, second only to Disney ($DIS).

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