MarketAxess (MKTX): From Q2 Detractor to Buyout Target at $167 per Share

Heartland Advisors, an investment management company, released its third-quarter 2026 investor letter for “Heartland Mid Cap Value Fund”. The letter can be downloaded here. Q3 proved challenging for markets as AI trade momentum faltered amid interest-rate and oil-price volatility. Following double-digit Q2 gains, the Russell Midcap Index fell 1.98%, trailing the S&P 500’s 2.30% gain. Despite debt concerns and market froth, nearly $1 trillion in tech AI CapEx is projected to boost GDP by...