Global Undervalued Small Caps With Insider Buying

Bank BTPN Syariah

Market Cap: Rp10.5t

Provides various banking products and services in Indonesia.

Seeing Machines

Market Cap: UK£135.6m

Provides driver and occupant monitoring system technologies in Australia, North America, the Asia Pacific, Europe, and internationally.

Hemisphere Energy

Market Cap: CA$179.4m

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

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.

Lindblad Expeditions Holdings

Market Cap: US$703.5m

Provides marine expedition adventures and travel experience worldwide.

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.

DIRTT Environmental Solutions

Market Cap: CA$163.6m

Operates as an interior construction company in Canada.

Southside Bancshares

Market Cap: US$927.6m

Operates as the bank holding company for Southside Bank that provides various financial services to individuals, businesses, municipal entities, and nonprofit organizations.

Thryv Holdings

Market Cap: US$558.1m

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

CVS Group

Market Cap: UK£866.6m

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

Industrial Logistics Properties Trust

Market Cap: US$365.1m

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

Citizens & Northern

Market Cap: US$308.0m

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

A.G. BARR

Market Cap: UK£773.1m

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

Montrose Environmental Group

Market Cap: US$786.6m

Operates as an environmental services company in the United States, Canada, and internationally.

Nexus Industrial REIT

Market Cap: CA$744.4m

Nexus is a growth-oriented real estate investment trust focused on increasing unitholder value through the acquisition of industrial properties located in primary and secondary markets in Canada, and the ownership and management of its portfolio of properties.

Farmland Partners

Market Cap: US$519.2m

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.

Saturn Oil & Gas

Market Cap: CA$426.9m

Engages in the acquisition, exploration, and development of petroleum and natural gas resource deposits in Canada.

Morguard North American Residential Real Estate Investment Trust

Market Cap: CA$975.4m

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

Dicker Data

Market Cap: AU$1.5b

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

East West Banking

Market Cap: ₱24.9b

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

Daiwa House Logistics Trust

Market Cap: S$395.2m

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.

Bank Danamon Indonesia

Market Cap: Rp23.7t

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

Salim Ivomas Pratama

Market Cap: Rp8.1t

Produces and sells edible oils and fats in Indonesia, China, Singapore, Timor Leste, Nigeria, Haiti, Germany, the Philippines, Papua New Guinea, and internationally.

inTEST

Market Cap: US$94.6m

Provides test and process technology solutions for use in manufacturing and testing in automotive, defense/aerospace, industrial, life sciences, security, and semiconductor markets in the United States and internationally.

CPI Card Group

Market Cap: US$249.8m

Engages in the design, production, data personalization, packaging, and fulfillment of payment cards in the United States.

Magnera

Market Cap: US$469.9m

Manufactures and sells non-woven and related products worldwide.

Colony Bankcorp

Market Cap: US$304.0m

Operates as the bank holding company for Colony Bank that provides various banking products and services to retail and commercial customers in the United States.

FastPartner

Market Cap: SEK 10.5b

A real estate company, owns, develops, and manages residential and commercial properties in Sweden.

Stelrad Group

Market Cap: UK£222.9m

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

Foxtons Group

Market Cap: UK£186.6m

An estate agency, provides services to the residential property market in the United Kingdom.

Troax Group

Market Cap: SEK 8.7b

Through its subsidiaries, produces and sells mesh panels in the Nordic region, the United Kingdom, North America, Europe, and internationally.

NOTE

Market Cap: SEK 5.6b

Provides electronics manufacturing services in Sweden, Finland, the United Kingdom, Bulgaria, Estonia, China, and internationally.

PhenixFIN

Market Cap: US$100.3m

A business development company.

Butler National

Market Cap: US$104.9m

Designs, engineers, manufactures, sells, integrates, installs, repairs, modifies, overhauls, services, and distributes a portfolio of aerostructures, aircraft components, avionics, accessories, subassemblies, and systems in North America, Europe, the Middle East, Asia, and internationally.

Fintel

Market Cap: UK£257.4m

Engages in the provision of intermediary services and distribution channels to the retail financial services sector in the United Kingdom.

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.