Global Undervalued Small Caps With Insider Buying

Bank Danamon Indonesia

Market Cap: Rp24.9t

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

Citizens & Northern

Market Cap: US$301.8m

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

Southside Bancshares

Market Cap: US$899.4m

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

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.

Shore Bancshares

Market Cap: US$530.7m

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

Columbus McKinnon

Market Cap: US$408.7m

Designs, manufactures, and markets motion solutions for moving, lifting, positioning, and securing materials worldwide.

Angel Oak Mortgage REIT

Market Cap: US$217.9m

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.

A.G. BARR

Market Cap: UK£760.9m

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

Lindblad Expeditions Holdings

Market Cap: US$729.8m

Provides marine expedition adventures and travel experience worldwide.

Morguard North American Residential Real Estate Investment Trust

Market Cap: CA$932.8m

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

CVS Group

Market Cap: UK£885.3m

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

Industrial Logistics Properties Trust

Market Cap: US$380.1m

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

Thryv Holdings

Market Cap: US$590.1m

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

GEN Restaurant Group

Market Cap: US$112.2m

Operates restaurants in the United States.

Absolent Air Care Group

Market Cap: SEK 2.9b

Designs, develops, sells, installs, and maintains air filtration units.

Sagicor Financial

Market Cap: CA$1.0b

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

Farmland Partners

Market Cap: US$480.3m

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.

PCB Bancorp

Market Cap: US$310.8m

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

First United

Market Cap: US$226.3m

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.

Hemisphere Energy

Market Cap: CA$185.2m

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

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.

East West Banking

Market Cap: ₱28.8b

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$406.0m

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.

PhenixFIN

Market Cap: US$98.5m

A business development company.

Sabre Insurance Group

Market Cap: UK£368.7m

Through its subsidiaries, engages in writing of general insurance for motor vehicles in the United Kingdom.

Harmonic

Market Cap: US$1.0b

Provides broadband access solutions worldwide.

NPK International

Market Cap: US$833.4m

A temporary worksite access solutions company, manufactures, sells, and rents recyclable composite matting products.

Meridian

Market Cap: US$167.0m

Operates as the bank holding company for Meridian Bank that provides commercial banking products and services in Pennsylvania, New Jersey, Delaware, Maryland, and Florida.

Spear Reit

Market Cap: R3.2b

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.

Allied Gold

Market Cap: CA$1.9b

Explores and produces mineral deposits in Africa.

Alerus Financial

Market Cap: US$546.3m

Operates as the bank holding company for Alerus Financial, National Association that provides various financial services to businesses and consumers in the United States.

Magnera

Market Cap: US$479.9m

Manufactures and sells non-woven and related products worldwide.

Civista Bancshares

Market Cap: US$395.7m

Operates as the financial holding company for Civista Bank that provides community banking services in the United States.

Renold

Market Cap: UK£160.2m

Engages in the manufacture and sale of high precision engineered products and solutions in the United Kingdom, rest of Europe, the United States, Canada, Australasia, China, India, and internationally.

NCC Group

Market Cap: UK£435.2m

Engages in the cyber and software resilience business in the United Kingdom, the Asian-Pacific, North America, and Europe.

Foxtons Group

Market Cap: UK£168.7m

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