Blum Capital cuts stake in ITT Educational Services to less than 5%

By Lisa Kerner

Charlotte, N.C., March 16 - A group of ITT Educational Services, Inc. investors led by Blum Capital Partners, LP decreased their stake in the company to less than 5% with the sale of 473,500 shares of the company's stock.

The shares were sold between March 2 and March 14, priced between $79.51 and $80.24, according to a schedule 13D filing with the Securities and Exchange Commission.

Blum Capital beneficially owns 2,026,500 shares, or 4.9%, of the company's stock.

ITT Educational Services, based in Carmel, Ind., is a provider of post-secondary degree programs.

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