Blum Capital Cuts Its Stake in ITT Educational Services in Half

In a 13D filing on ITT Educational Services Inc. (ESI), Blum Capital disclosed it sold 3 million shares on 11/06, bringing its stake to 3,855,130 shares (9.3%).

The firm sold the shares to a broker in a block sale at $68.85 per share. The firm also said in connection with the sale, they entered into a verbal lock-up agreement on November 6, 2006 with the broker, not to sell additional shares of the Issuer's Common Stock for thirty days after the trade date.