Global Undervalued Small Caps With Insider Buying

Bank BTPN Syariah

Market Cap: Rp10.7t

Provides various banking products and services in Indonesia.

Bank Danamon Indonesia

Market Cap: Rp23.7t

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

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.

Hemisphere Energy

Market Cap: CA$179.4m

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

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.

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.

A.G. BARR

Market Cap: UK£762.0m

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

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.

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.

Seeing Machines

Market Cap: UK£145.3m

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

Columbus McKinnon

Market Cap: US$460.6m

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

Saturn Oil & Gas

Market Cap: CA$426.9m

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

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£860.9m

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

Lindblad Expeditions Holdings

Market Cap: US$703.5m

Provides marine expedition adventures and travel experience worldwide.

Montrose Environmental Group

Market Cap: US$786.6m

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

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.

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.

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$398.7m

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.

Wintermar Offshore Marine

Market Cap: Rp1.8t

Provides supporting services for the offshore transportation for the oil and gas industry in Indonesia, Malaysia, Brunei, Myanmar, Thailand, India, Vietnam, the Philippines, the Middle East, and Taiwan.

Karnov Group

Market Cap: SEK 12.4b

Provides online and offline information products and services for professionals in the areas of legal, tax and accounting, environmental, and health and safety in Denmark, Norway, France, Sweden, Portugal, and Spain.

Oxford Instruments

Market Cap: UK£1.2b

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

Kitwave Group

Market Cap: UK£205.2m

Engages in the food and drink wholesale business in the United Kingdom.

Stelrad Group

Market Cap: UK£223.5m

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

Alerus Financial

Market Cap: US$567.2m

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

Foxtons Group

Market Cap: UK£187.2m

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 5.0b

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

Pebblebrook Hotel Trust

Market Cap: US$1.3b

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.

Lords Group Trading

Market Cap: UK£87.3m

Distributes building materials, plumbing, heating, and DIY goods to local tradesmen, developers, small and medium construction companies, and retail customers.

FastPartner

Market Cap: SEK 10.4b

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

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.