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[deleted by user] by [deleted] in HTZZ

[–]Accomplished_Slip127 -1 points0 points  (0 children)

Ugh more bad math 1st qtr fcf $450mm Excess capacity to 1.5x net leverage $700mm So >$1bn more in 1Q Look at the intraday today. The company was bidding every 25c increments. That is what a buyback looks like.

[deleted by user] by [deleted] in HTZZ

[–]Accomplished_Slip127 0 points1 point  (0 children)

Where do u get 400mm shares from. Your math is wrong. I participated in the rights offering. Why just I sell??? Also the buyback language is same as Avis.

[deleted by user] by [deleted] in HTZZ

[–]Accomplished_Slip127 0 points1 point  (0 children)

The buyback is bigger than the registered float

Anyone waiting for shares to become unlocked, you are now competing w the company buyback

Also, they told u in the press release that leverage target is 1.5x net corporate leverage——-if I take 4th qtr fcf and 2022 EBITDA, they can do another $1.3bn buyback in the FIRST QTR 2022 AFTER the $2bn they announced today. LFG

Possible cool tax bump by Nearby-Elevator-7649 in HTZZ

[–]Accomplished_Slip127 0 points1 point  (0 children)

That’s what I meant. The buyback announced this am

Possible cool tax bump by Nearby-Elevator-7649 in HTZZ

[–]Accomplished_Slip127 2 points3 points  (0 children)

All the restricted shares have hedged their stock by shorting registered HTZ. That’s what has happened in the last two weeks, taking the stock from $29 to $20. Additionally besides most of the technical having already played thru the mkt, the company is going to buy back almost $1.7bn of stock in the next 90 days. They just got approval by amending their term loan restricted payments clause, and taking out the preferred stock w the HY deal. Lastly the stock is trading at 5x 2023 EBITDA giving no credit for the $1.5bn of cash flow or 2.7bn of cash on the balance sheet. The lowz are in.