Global Undervalued Small Caps With Insider Buying

Avia Avian

Market Cap: Rp25.6t

Manufactures and distributes paints and building materials in Indonesia.

Bank Danamon Indonesia

Market Cap: Rp24.7t

Provides banking services for retail, small and medium enterprises (SMEs), and corporate customers in Indonesia.

Industrial Logistics Properties Trust

Market Cap: US$391.4m

ILPT is a real estate investment trust focused on owning and leasing high quality industrial and logistics properties.

Farmland Partners

Market Cap: US$490.5m

An internally managed real estate company that owns and seeks to acquire high-quality North American farmland and makes loans to third-party farmers (both tenant and non-tenant) and landowners secured by farm real estate and/or other agricultural related assets.

CVS Group

Market Cap: UK£922.6m

Engages in veterinary, pet crematoria, online pharmacy, and retail businesses.

Shore Bancshares

Market Cap: US$565.1m

Operates as a bank holding company for the Shore United Bank, N.A.

Thryv Holdings

Market Cap: US$575.6m

Provides digital marketing solutions and cloud-based tools to the small-to-medium-sized businesses in the United States.

First Northern Community Bancorp

Market Cap: US$190.5m

Operates as the bank holding company for First Northern Bank of Dixon that provides commercial banking products and services to individuals, and small and medium sized businesses.

A.G. BARR

Market Cap: UK£760.9m

Manufactures, distributes, and sells soft drinks and cocktail solutions in the United Kingdom and internationally.

Peoples Bancorp

Market Cap: US$1.1b

Operates as the financial holding company for Peoples Bank that provides commercial and consumer banking products and services.

First United

Market Cap: US$242.4m

Operates as the bank holding company for First United Bank & Trust that provides various retail and commercial banking services to businesses and individuals in the United States.

Morguard North American Residential Real Estate Investment Trust

Market Cap: CA$979.6m

The REIT is an unincorporated, open-ended real estate investment trust established under and governed by the laws of the Province of Ontario.

Angel Oak Mortgage REIT

Market Cap: US$232.2m

A real estate finance company, focuses on acquiring and investing in first lien non- qualified mortgage loans and other mortgage-related assets in the United States mortgage market.

S&T Bancorp

Market Cap: US$1.5b

Operates as the bank holding company for S&T Bank that provides retail and commercial banking products and services to consumer, commercial, and small business in Pennsylvania and Ohio.

PCB Bancorp

Market Cap: US$314.5m

Operates as the bank holding company for PCB Bank that provides various banking products and services to small and middle market businesses and individuals.

Sagicor Financial

Market Cap: CA$1.1b

Provides insurance products and related financial services in Jamaica, Barbados, Trinidad, Tobago, other Caribbean region, and the United States.

Tandem Diabetes Care

Market Cap: US$827.7m

Designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally.

Citizens & Northern

Market Cap: US$314.0m

Operates as the bank holding company for Citizens & Northern Bank that provides various banking and related services to individual and corporate customers.

GDI Integrated Facility Services

Market Cap: CA$638.8m

Operates in the outsourced facility services industry in Canada and the United States.

Hemisphere Energy

Market Cap: CA$188.4m

Acquires, explores, develops, and produces petroleum and natural gas properties in Canada.

Bytes Technology Group

Market Cap: UK£969.6m

Offers software, security, AI, and cloud services in the United Kingdom, Europe, and internationally.

GEN Restaurant Group

Market Cap: US$111.7m

Operates restaurants in the United States.

East West Banking

Market Cap: ₱26.3b

Operates as a commercial bank that provides a range of financial products and services to individual and corporate clients in the Philippines and internationally.

Dicker Data

Market Cap: AU$1.6b

Engages in the wholesale distribution of computer hardware, software, and related products for corporate and commercial markets in Australia and New Zealand.

BWP Trust

Market Cap: AU$2.5b

Established and listed on the Australian Securities Exchange (‘ASX’) in 1998, BWP Trust (‘BWP’ or ‘the Trust’) is a real estate investment trust investing in and managing commercial properties throughout Australia.

Daiwa House Logistics Trust

Market Cap: S$395.4m

Daiwa House Logistics Trust (“DHLT”) is a Singapore real estate investment trust (“REIT”) established with the investment strategy of principally investing in a portfolio of income-producing logistics and industrial real estate assets located across Asia.

Far East Orchard

Market Cap: S$589.1m

An investment holding company, engages in the hotel operations and property investment activities in Singapore, Australia, the United Kingdom, Japan, Malaysia, Germany, and Denmark.

Baazar Style Retail

Market Cap: ₹29.6b

Engages in the business of retailing various apparel and non-apparel consumer products in India.

Spear Reit

Market Cap: R3.3b

Spear REIT Limited (“Spear”) listed as a Real Estate Investment Trust (“REIT”) on the main board of the Johannesburg Stock Exchange (“JSE”) and is the only regionally-focused REIT listed on the JSE that predominantly invests in high-quality income-generating assets in the Western Cape.

Bank of Valletta

Market Cap: €1.3b

Provides banking, financial, investment, and other products and services in Malta.

Oxford Instruments

Market Cap: UK£1.0b

Oxford Instruments plc provide scientific technology products and services for academic and commercial organizations in the United Kingdom and internationally.

OneSpan

Market Cap: US$553.4m

Designs, develops, and markets digital solutions for security, authentication, identity, electronic signature, and digital workflow products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific regions.

Instabank

Market Cap: NOK 1.1b

Provides various banking products and services in Norway.

Hoist Finance

Market Cap: SEK 8.8b

A credit market company, engages in the loan acquisition and management operations in Europe.

Super Group

Market Cap: R4.7b

Engages in the supply chain management, mobility, dealership, and fleet management activities in South Africa, sub-Saharan Africa, Australia, Europe, New Zealand, and the United Kingdom.

Stelrad Group

Market Cap: UK£211.4m

Manufactures and distributes radiators in the United Kingdom, Ireland, Europe, Turkey, and internationally.