MarketAxess Holdings, Inc.
Long

MKTX: MarketAxess - Finding Cycle Troughs in a Rising Market

206
I recently added new position MKTX to the portfolio.

MarketAxess operates the leading platform for the electronic trading of corporate bonds.Recently, we found for an active high-yield bond fund, and on the manager call they mentioned they exclusively use MarketAxess for their trading activity. The company is poised to capture broad-based capital market growth as they've recently expanded their business into different segments of the fixed income market. I've been following MKTX for a long time, and think the setup looks attractive.

Morningstar gives it a Wide economic moat, a Stable moat trend, Exemplary capital allocation, and a four star valuation. A fair value of $350 means MKTX is trading at a 27% discount.

Technically, the "h" pattern is a durable double bottom setup.

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