Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Richard Blum Reduces ITT Educational Services Stake Again

Blum Capital, ITT Educational Services: A couple of minutes ago, Richard Blum‘s fund Blum Capital Partners reported trimming its stake in ITT Educational Services, Inc. (NYSE:ESI) to around 2.3 million shares, from over 2.5 million shares disclosed in a filing from about two weeks ago. In this way, Blum now holds 9.8% of the company’s common stock, versus 10.8% reported earlier.

Richard Blum

The latest move made by Blum into ITT Educational Services is the fourth cut this month. In this way, Blum significantly decreased its exposure in the company from some 3.3 million shares reported as at the end of the second quarter. Last week, ITT posted its results for the third quarter of 2013, showing a 17.6% decline in its revenue, which totaled $259.4 million. The net income slumped by almost 56% on the year to $18.9 million.

Select Equity Group, run by Robert Joseph Caruso also reported a stake in ITT Educational Services at the end of the second quarter. Its position contains slightly above 3.3 million.

Disclosure: none

Recommended Reading:

Carl Icahn Sounds Off On Apple Again, Says He Won’t Try To Remove Board of Directors

Elkhorn Partners Raises Position in Orbit International to 22.4%

Railroad Stocks Are Warren Buffett’s Favorite Indicator, and They’re Booming

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!