U.S. Undervalued Small Caps With Insider Buying

Blue Bird

Market Cap: US$1.7b

Designs, engineers, manufactures, and sells school buses in the United States, Canada, and internationally.

Citizens & Northern

Market Cap: US$291.1m

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

Angel Oak Mortgage REIT

Market Cap: US$216.0m

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.

First United

Market Cap: US$212.0m

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.

GEN Restaurant Group

Market Cap: US$115.2m

Operates restaurants in the United States.

Farmland Partners

Market Cap: US$478.5m

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.

PCB Bancorp

Market Cap: US$299.5m

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

Auburn National Bancorporation

Market Cap: US$92.6m

Operates as the bank holding company for AuburnBank that provides various banking products and services in East Alabama.

PDF Solutions

Market Cap: US$749.2m

Provides proprietary software, physical intellectual property for integrated circuit designs, electrical measurement hardware tools, proven methodologies, and professional services in the United States, Japan, China, Taiwan, and internationally.

Lindblad Expeditions Holdings

Market Cap: US$704.0m

Provides marine expedition adventures and travel experience worldwide.

S&T Bancorp

Market Cap: US$1.4b

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.

Gentherm

Market Cap: US$997.7m

Designs, develops, manufactures, and sells thermal management and pneumatic comfort technologies in the United States and internationally.

Southside Bancshares

Market Cap: US$869.3m

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

Industrial Logistics Properties Trust

Market Cap: US$372.1m

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

Shore Bancshares

Market Cap: US$510.3m

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

Tilray Brands

Market Cap: US$1.0b

A lifestyle consumer products company, engages in the research, cultivation, processing, and distribution of medical cannabis products in Canada, the United States, Europe, the Middle East, Africa, and internationally.

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.

NPK International

Market Cap: US$801.3m

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

Alerus Financial

Market Cap: US$526.2m

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$457.5m

Manufactures and sells non-woven and related products worldwide.

Community Bancorp

Market Cap: US$128.7m

Operates as the bank holding company for Community National Bank that provides various financial services to individuals, businesses, nonprofit organizations, and municipalities in northern and central Vermont.

Embecta

Market Cap: US$744.5m

A medical device company, focuses on the provision of various solutions to enhance the health and wellbeing of people living with diabetes in the United States and internationally.

Harmonic

Market Cap: US$995.4m

Provides broadband access solutions worldwide.

Community Trust Bancorp

Market Cap: US$973.6m

Operates as the bank holding company for Community Trust Bank, Inc.

Full House Resorts

Market Cap: US$119.9m

Owns, leases, operates, develops, manages, and invests in casinos, and related hospitality and entertainment facilities in the United States.

Monro

Market Cap: US$458.7m

Engages in the operation of retail tire and automotive repair stores in the United States.

Civista Bancshares

Market Cap: US$380.5m

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

Colony Bankcorp

Market Cap: US$280.8m

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.

Butler National

Market Cap: US$109.1m

Designs, engineers, manufactures, sells, integrates, installs, repairs, modifies, overhauls, services, and distributes a portfolio of aerostructures, aircraft components, avionics, accessories, subassemblies, and systems.

Meridian

Market Cap: US$157.3m

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

Helen of Troy

Market Cap: US$505.7m

Provides various consumer products in the United States, Canada, Europe, the Middle East, Africa, the Asia Pacific, and Latin America.

OneSpan

Market Cap: US$500.9m

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.

Granite Ridge Resources

Market Cap: US$689.1m

Operates as a non-operated oil and natural gas exploration and production company.

Hudson Pacific Properties

Market Cap: US$937.0m

A real estate investment trust, or REIT, and the sole general partner of our operating partnership.

Pebblebrook Hotel Trust

Market Cap: US$1.1b

Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust ("REIT") and the largest owner of urban and resort lifestyle hotels and resorts in the United States.

PhenixFIN

Market Cap: US$98.5m

A business development company.